By Nyein Nyein
Foreign investments of over US$163 million have flowed into Thilawa Special Economic Zone under the Special Economic Zone Law in the financial year 2019-2020 (October-September), and FDI inflows were down by $200 million compared with the previous FY2018-2019., the statistics released by the Directorate of Investment and Company Administration (DICA) indicated.
Between 1 October and 30 September of the FY2019-2020, eight foreign enterprises were given the green light, ploughing in capitals of $163.277 million. During a-year ago period, 16 enterprises with an estimated capital of $362.28 million were given the go-ahead in the zone. The number of permitted or endorsed enterprises this year was eight lower than last year. Similarly, the investment value fell by $199.003 million compared to the previous FY, the DICA stated.
Over the four years of the incumbent government, Thilawa SEZ attracted over US$1 billion from 60 enterprises, the DICA’s data showed. The FDIs flowed into the manufacturing, trading, other services, transportation and logistics, real estate development, and hotel sectors. (Translated by Ei Myat Mon)