BY Nyein Nyein
Foreign Direct Investment (FDI) of US$142 million has flowed into Thilawa Special Economic Zone (SEZ) in the past 11 months of this financial year, which is a drop by $79 million compared to that of last year, according to the figures released by the Directorate of Investment and Company Administration (DICA). According to the DICA statistics, six foreign enterprises have been granted permits and endorsements between 1 October and 28 August in the current FY, bringing in the capital of $142.297 million. During the same period of the last financial year of 2018-2019, MIC gave the green light to 16 FDIs and endorsements, and it has ploughed $221.430 million.
The number of permitted or endorsed enterprises this year was ten lower than last year, and the FDI investment amount has also dropped by $79.133 million, according to DICA. Although there are industry sector, commodity trading sector, housing and construction development sector, transportation and logistics sector, service sector and hotels sector in Thilawa SEZ, FDIs are only in the industry sector and the service sector. In the current financial year, MIC has set an FDI target of $ 5.8 billion. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country. (Translated by Hay Mar)