Transport, communications sector tops FDI line-up in incumbent government period

Under the Myanmar Investment Law, transport and communications sector tops the foreign investment line-up during four years of incumbent government period, bringing in the capital of US$6.135 billion, according to the Directorate of Investment and Company Administration (DICA).
The quantum of investment in transport and communications sector is higher than in any other sectors, attracting 29 enterprises. Between 2016-2017 Financial Year and 2019-2020FY (as of July), the manufacturing sector has absorbed FDI of $5.87 million from 687 projects in the current FY. Real estate sector has attracted $3.39 billion from 27 projects. The power sector has drawn 19 foreign investment projects worth $3.17 billion. Twenty-four projects worth $715.7 million has been approved in the hotel and tourism sector, while investments of $363 million have flowed into the oil and gas sector from the existing enterprises. The livestock and fisheries sector has pulled in the investment of $452.68 million from 36 foreign enterprises.
The agricultural sector has also raked in $181.98 million from 18 foreign projects, while industrial estate sector received $390.459 million from five enterprises. The mining sector has received over $11 million from existing enterprises. Over $2.569 billion in FDI has been pumped into the other services sector from 101 businesses. The Myanmar Investment Commission (MIC) and the respective investment committees granted permits and endorsements to 1004 foreign enterprises as of July-end in the 2019-2020FY, with estimated capitals of US$24.6 billion.
Of them, Special Economic Zones raked in investments worth $1.348 billion from 58 enterprises under the Special Economic Zone Law in the past four years, while FDI of $23.26 billion flowed into the country under the Myanmar Investment Law, the DICA’s data showed.
Of 36 foreign countries investing in Myanmar in the past four years, Singapore put the most massive investments under Myanmar Investment Law, followed by China and Hong Kong (SAR). MIC is prioritizing the labour-intensive businesses. In the incumbent government period, domestic and foreign projects employ over 500,000 residents, according to the DICA. Those enterprises have created over 19,000 jobs in the 2016-2017FY, 110,000 jobs in the 2017-2018FY, over 53,000 jobs in the 2018 mini-budget period, over 180,000 jobs in the 2018-2019FY and over 182,000 (Oct-July) in the 2019-2020FY respectively. — Ko Htet (Translated by Ei Myat Mon)

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