Foreign investment in Myanmar’s power sector reaches 19.6 bln USD as of April

YANGON, May 13 (Xinhua) — Foreign direct investment in Myanmar’s power sector reached 19.6 billion U.S. dollars as of April, accounting for 30.89 percent of the total, according to Myanmar Investment Commission Friday.

The power sector stands the second in the country’s foreign investment line-up after oil and gas.

U Htein Lwin, permanent secretary of the Ministry of Electricity and Energy, said that as the ministry spent so much to meet the country’s power demand in producing electricity, it is considering encouraging foreign investment in the country’s power sector without affecting national interest.

The power consumption of the country increases annually 15 percent or 300 megawatt. More power plants are needed to meet the demand. The country’s main power resources are gas and hydro power.

At present, only 3.7 million households can use electricity out of 10 million. The per capital power consumption was about 222 kilowatts while in neighboring Thailand it was 2,500 kilowatts in 2015, he added.

Source: ShanghaiDaily

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