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FDI Targeted to Hit $140 Billion by 2030

The entry of foreign direct investment (FDI) into Myanmar is targeted to hit $140 billion by 2030, according to Kyaw Win, Minister for Planning and Finance. The country has planned to be able to lure toal FDI value of $140 billion for the period from 2014 to 2030, said Kyaw Win, citing a long-term FDI promotion plan developed by the Directorate of Investment and Company Administration (DICA), a government department under the Ministry of Planning and Finance, with support provided by the Japan International Cooperation Agency (JICA).

The DICA is currently working closely with the JICA in designing the Infrastructure Public-Private Partnership Institutional Framework to effectively develop the country’s infrastructure that poses a challenge to FDI initiatives, said Kyaw Win.

According to the Myanmar Investment Commission (MIC), the FDI from April 1 to the last week of September reached more than $4.3 billion. The first five months of the ongoing budget year, which started on April 1 and is going to end on March 31 coming year, fetched FDI value over $3.8 billion.

Myanmar has projected annual foreign investment value of more than $6 billion for the current 2017-2018 financial year, nearly the same as that of the past FY2016-2017, which fetched total FDI inflow of $6.6 billion.