Singapore top source of FDI in Myanmar in past ten months

Fifteen Singapore-listed enterprises pumped in foreign investments of US$1.157 billion into Myanmar in the past ten months (April-Jan) of the current financial year 2022-2023, the Directorate of Investment and Company Administration’s statistics showed.
Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors.
Hong Kong SAR stood as the second-largest investor this FY with an estimated capital of over $165 million by 12 enterprises and the existing ones. China is ranked third in the line-up with more than $105 million from 36 businesses and the existing ones.
Two each from the Republic of Korea and China (Taipei) put investments into Myanmar, while one enterprise each from Belize, Japan and the UK also made investments in the past ten months respectively. The existing enterprises from Bangladesh, Japan, Seychelles, Chinese Taipei, China, Hong Kong SAR, the Republic of Korea, India, Thailand, the UK, Thailand, Switzerland and Samoa also increased investments.
Myanmar Investment Commission nodded 70 foreign projects from eight countries in (April-January) of the current FY 2022-2023. The country attracted a capital of US$1.476 billion this FY, including the expansion of capital by the existing enterprises, according to the DICA.
Those enterprises are engaged in agriculture, mining, manufacturing, power, hotels and tourism, real estate and service sectors respectively. The majority of the investments were brought into the manufacturing sector.
Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of  $1.85 billion in the FY 2019-2020, $2.4 billion in the FY 2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018 FY, $3.8 billion in the 2016-2017 FY, $4.25 billion in the 2015-2016 FY, $4.29 billion in the 2014-2015 FY, $2.3 billion in the 2013-2014 FY and $418 million in the 2012-2013 FY respectively.
Additionally, Singapore emerged as the second largest foreign investor in the Thilawa Special Economic Zone, after a top investor – Japan. — KK