Singapore puts capital of $429 mln into Myanmar in 2020-2021FY

LOCAL NEWS

The 14 Singapore-listed enterprises brought in US$429.336 million into Myanmar last financial year2020-2021, including the expansion of capital by the existing enterprises, the Directorate of Investment and Company Administration’s statistics showed.
Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors.
Myanmar attracted foreign direct investment of more than US$3.79 billion in the last financial year 2020-2021 from 48 enterprises, including expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, DICA’s statistics indicated.
A UK-listed enterprise brought in large investments of $2.5 million and became the top source of FDI in Myanmar.
Japan stood as the second-largest investor this FY with an estimated capital of $518.76 million from three projects. Singapore is ranked third in the investment line-up.
Those enterprises listed from Brunei, China, Thailand, India, Malaysia, the Republic of Korea, Viet Nam, Marshall Islands, Samoa, Hong Kong (SAR) and China (Taipei) also made investments this year.
Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of $1.85 billion in the FY2019-2020, $2.4 billion in the FY2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018FY, $3.8 billion in the 2016-2017FY, $4.25 billion in the2015-2016FY, $4.29 billion in the 2014-2015FY, $2.3 billion in the 2013-2014FY and $418 million in the 2012-2013FY, respectively.
Additionally, Singapore emerged as the second-largest foreign investor in the Thilawa Special Economic Zone, after top investor Japan. – KK/GNLM

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