Power sector tops $1 bln in Oct-Jan period

LOCAL NEWS

Foreign direct investment of over US$1.026 billion has flowed from six enterprises into the power sector in the past four months of the current fiscal year, according to statistics provided by the Directorate of Investment and Company Administration (DICA).
The total investment in power is higher than in any other sector.
During the October-January period, FDI of $2.089 billion, including an expansion of capital, has flowed into the country. The Myanmar Investment Commission (MIC) and the investment committees of states and regions have allowed 106 enterprises to invest in the country.
In the current fiscal year, the manufacturing sector has absorbed FDI of $253.25 million. The livestock and fisheries sector has drawn foreign investments of $15.53 million, and over $145.4 million has been pumped into the transport and communications sector, while the hotels and tourism sector has pulled in investments of $27.954 million.
The real estate sector has also reported investments of $600 million. Over $19.37 million in FDI has been pumped into the other services
sector.
In the current fiscal, the MIC has set an FDI target of $5.8 billion.
In the 2018-2019FY, FDI into Myanmar totaled $4.5 billion, falling short of the $5.8-billion target by some $1.3 billion.
Foreign direct investment into Myanmar was registered at $1.76 billion in the last mini-budget period, $5.7 billion in the 2017-2018FY, $6.6 billion in the 2016-2017FY, and $9.4 billion in the 2015-2016FY. —GNLM (Translated by Ei Myat Mon)

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