Investment from European countries in Myanmar has increased since last fiscal year, according to the Myanmar Investment Commission.
Investment from European countries reached nearly US$6 billion between April and February this fiscal year, followed by the UK ($4.073 billion), the Netherlands ($989 million), France ($541 million), Luxembourg ($45 million), Switzerland ($14 million) and Norway ($11 million).
Up to the end of February in the 2015-16 fiscal year, China topped the lists of foreign countries with investments in Myanmar. It stands first with over US$15 billion of investments in 126 projects, which have been developed from 1985 to 2015, followed by Singapore, with over $12 billion in 199 projects.
Foreign direct investment from 43 countries has come into Myanmar, most of it into the country’s oil and gas sector. The sector has attracted $19 billion into 151 projects, followed by the energy sector with $19 billion investment.
According to the Directorate of Investment and Company Administration under the Ministry of National Planning and Economic Development, Myanmar has received a total of over $23.84 billion in foreign direct investment between the 2011-2012 fiscal year and the 2015-2016 fiscal year.
Source: NG/Union Daily
