Mon State attracted foreign direct investments (FDI) totaling $5.9 billion between 1994 and 2017, according to the Mon State Directorate of Investment and Company.
While no new foreign investors have come to Mon since the present government took over during the 2016-17 fiscal year, the local government expects things to improve in the coming year.
“More FDI will come in the 2018-19 fiscal year,” said U Myint Lwin, spokesperson of Mon State Directorate of Investment and Company.
So far, a total of 11 countries have invested in Mon State. However, this excludes China, which in October said it is considering investing in rubber products manufacturing, fruit cultivation and tourism in Mon. China is also interested in importing pomelo and pomelo products from Mon State.
Historically, the four sectors which attracted FDI in Mon State include the energy, industrial and manufacturing, services and electronics sectors. However, the bulk of FDI was channeled into developing the energy sector. Of the $5.9 billion in total FDI between 1994 and 2017, $5 billion was invested in oil and gas.
Thailand is so far the biggest investor in Mon State, with Thai petroleum firm PTTEP having invested some $2.1 billion in an offshore gas field in the Gulf of Martaban. PTTEP is also the largest of the 18 international investors in Myanmar’s energy sector.
French national oil company Total has invested up to $465 million, while its transportation arm, Moattama Gas Transportation Co, has invested about $580 million in Mon. Meanwhile, another trucking company, Andaman Transportation, has ploughed some $499 million into the state.
Source: Myanmar Times
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