China ranked first on the list of foreign investment countries with overall investments of US$18billion in 183 projects permitted as of end of May, according to the statistics of the Directorate of Investment and Company Administration (DICA).
China’s investment in Myanmar accounted for over 26 per cent of total foreign investment value. Singapore placed second with investments of over US$16billion, followed by Thailand and Hong Kong at third and fourth place, respectively.
In overall foreign direct investment (FDI) values flowing into the country so far, the oil and gas sector made up over 31 per cent of FDI at over US$22billion, followed by the power sector in second place with investments of over US$20.5billion. The manufacturing and transportation and communications sectors follow the power sector with investments of over US$11billion each.
The real estate sector received FDI of over US$3.86billion while the mining sector attained over US$2.89billion so far. The hotel and tourism sector placed seventh with investments of US$2.85billion in 68 projects. Additionally, foreign investments are also entering the following sectors: livestock and fisheries; agriculture; industrial estate; construction and other services.
A total of US$71.2billion worth of FDI flowed into the country so far, with over US$923million in May. The fiscal year of 2017-2018 is expected to attain more than US$6billion of FDI, it is learnt.
Foreign investment also flowed heavily into the manufacturing and real estate sectors in the past two months of the current fiscal year.—Htet Myat
Source: The Global New Light of Myanmar
