Singapore tops source of FDIs in Myanmar in 2020-2021FY

Picture shows Thilawa Special Economic Zone. Photo; Nay lin

Singapore has remained as the top source of foreign direct investments into Myanmar in the current financial year 2019-2020, according to data released by the Directorate of Investment and Company Administration (DICA). The 20 Singapore-listed enterprises brought in US$1.85 billion into Myanmar in the past financial year 2019-2020. Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors.
Hong Kong stood as the second-largest investors this FY with an estimated capital of $1.42 billion from 46 enterprises, followed by Japan investing $760 million in Myanmar. Myanmar attracted foreign direct investments of more than US$5.68 billion between 1 October and 30 September in FY2019-2020, and over $100 million is required to meet FDI target, the DICA stated. The FDIs flow into oil and gas, power, transportation and communication, real estate, hotels and tourism, mining, livestock and fisheries, industrial estate, agriculture, construction, manufacturing, trading, logistics and other service sectors.
Singapore has stood as the largest foreign investor in Myanmar since 2012, pulling in the FDI of $2.4 billion in the 2018-2019FY, $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.—GNLM (Translated by Ei Myat Mon)

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