Myanmar attracts FDI

• Dec 15, 2020

YANGON: Investment capital of over US$199mil from permitted foreign enterprises have entered Myanmar in the first two months of the present fiscal year 2020-2021 which started in October, according to figures issued by the Directorate of Investment and Company Administration (DICA) yesterday.

From Oct 1,2020 to Nov 30 of this fiscal year, the Myanmar Investment Commission (MIC) gave the go-ahead to 14 foreign investment enterprises.

During the period, the manufacturing sector attracted most investment capital with over US$143mil, followed by the service sector with over US$27mil and the livestock and fisheries sector with over US$11mil, DICA’s figures showed.

In the last fiscal year, Myanmar attracted over US$5.5bil investment from 245 permitted foreign enterprises. Singapore, China and Thailand are the top leading investors in Myanmar.

Regionally, the Yangon region attracts 60% of investment from both home and abroad, followed by the Mandalay region with 30% and the rest flowing into other regions and states. — Xinhua