Power sector tops FDI line-up in Oct-Dec

LOCAL NEWS

Foreign direct investment of over US$538 million has flowed from three enterprises into the power sector in the past three months of the current financial year, according to statistics provided by the Directorate of Investment and Company Administration (DICA).
The quantum of investment in power is higher than in any other sector.
During the October-December period, FDI of $1.164 billion, including expansion of capital, has flowed into the country. The Myanmar Investment Commission (MIC) and the investment committees of states and regions have allowed 72 enterprises to invest in the country.
The manufacturing sector has absorbed FDI of $158.89 million from 59 projects in the current FY. The livestock and fisheries sector has drawn two foreign investment projects worth $6.58 million. One project worth $0.4 million has been approved in the transport and communications sector.
The hotels and tourism sector has pulled in investment of $0.8 million from one foreign enterprise.
The real estate sector has also raked in $440 million from three foreign projects. Over $18.87 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 around $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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