Myanmar secures over US$1 billion FDI in 7 months of 2022-2023FY

Myanmar received over US$1.451 billion worth of foreign investment during seven months of the financial year 2022-2023, and Singapore is the top source so far, according to data from the Directorate of Investment and Company Administration-DICA.
Singapore made the most investment in Myanmar starting in 2012. Its investment was $2.4 billion in the 2018-2019FY while $2.16 million in the 2017-2018FY, $3.8 billion in the 2016-2017FY, $4.25 billion in the 2015-2016FY and $4.29 billion in the 2014-2015FY.
Between April and the end of October of this financial year, the investment flows into Myanmar were $1,154.286 million by Singapore, $1.5million by Belize, $1 million by Bangladesh, $90.028 million including an investment promotion by China, $3 million including an investment promotion by Chinese Taipei, $163.019 million including an investment promotion by Hong Kong and $1.545 million including an investment promotion by India.
Moreover, Japan made a $21.4 million investment while $4.8 million by the Republic of Korea, $6 million by Thailand, S4.677 million by Switzerland, $0.300 million by the UK, and $0.338 million by Seychelles, figures of the department showed.
The annual foreign investment flows into the country are $40,693.687 million between the 1988-1989FY and 2011-2012FY, $1,419.467 million in the 2012-2013FY, $4,103.957 million in the 2013-2014FY, $8,010.533 million in the 2014-2015FY and $9,486.123 million in the 2015-2016FY.
In the 2016-2017FY, it was $6,649.812 million while $5,713.086 million in the 2017-2018FY and $1,764.701 million in the six-month mini-budget period between April and September 2018.
It was also $4,158.474 million in the 2018-2019FY, $4,880.973 million in the 2019-2020FY, $3,791.398 million in the 2020-2021FY and only $647.127 million in the six-month mini-budget period between October and March of the 2021-2022FY.
The government permits foreign investments in 12 sectors such as agriculture, livestock and fisheries, mining, manufacturing, power, oil and gas, construction, transport and communications, hotels and tourism, real estate, industrial zones and the services sector.—TWA/GNLM