FDI inflow expected to hit nearly six billion USD this FY

The inflow of foreign direct investments (FDI) is expected to hit nearly six billion US dollars in 2018-2019 fiscal year, according to Myanmar Investment Commission (MIC).

From October, 1 to April 26 of this fiscal year, the total FDI reached 2546.905 million US dollars.

At its meeting held at the Directorate of Investment and Company Administration’s (DICA) office in Yangon on April 26, the MIC gave the nod for three investments (two from the industry sector and one from the transportation sector) worth 297.345 million USD. It will create 1,851 new jobs for citizens.

Until 26 April of this fiscal year, the MIC allowed 150 foreign investments worth 1682.707 million USD. The total FDI reached 2412.835 million USD including investment promotion.

During the same period, the FDI granted under the Special Economic Zone Law, including investment promotion, amounted to 134.070 million USD.

According to the figures from the MIC, the regions and states see an inflow of FDI worth over 1.65 billion USD and citizen investments worth over Ks 974 billion.

According to the DICA, FDI worth over 200 billion USD is expected to inflow into the county within the next 20 years. More responsible investments are expected to inflow.

In a bid to encourage the inflow of more responsible investments, the MIC has drafted the Myanmar Investment Promotion Plan, in cooperation with the Japan International Cooperation Agency (JICA).

Source: Eleven Myanmar

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