Home Insider Insider News Foreign Direct Investment Hits $5.71 Billion

Foreign Direct Investment Hits $5.71 Billion

Myanmar has received foreign direct investments (FDI) of more than $5.71 billion in the current financial year ending March 31, according to the Myanmar Investment Commission (MIC), a government-appointed appraisal body for domestic and foreign investment proposals.

Until March, the FDI entry into Myanmar amounted to $5.71 billion when the value of add-on investments is taken along with the initial inflows of more than $4.77 billion, said a press conference held at the MIC office on March 22.

In the 2017-2018 budget year, Myanmar has attracted FDI inflows into agriculture, manufacturing, real estate, livestock and fishery, transport and communications, electric energy, industrial estate and hospitality sectors and other service sectors. The investments came from a range of countries that include China, France, Germany, Hong Kong, India, Japan, Macao, South Korea, Singapore, Thailand, the Netherlands,the United Kingdom, the United States, Vietnam, Taiwan and New Zealand. The country has planned to be able to lure total FDI value of $140 billion for the period from 2014 to 2030, according to 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).

In the past budget year, Myanmar fetched FDI inflows of $6.6 billion.