Foreign direct investments in Myanmar for fiscal 2019-20 exceed target

Myanmar will exceed its foreign direct investment target (FDI) of US$5.8 billion in fiscal 2019-20. said U Thant Sin Lwin, Director General of Directorate of Investment and Company Administration.

As at September 7, FDI was more than US$ 5.3 billion. The fiscal year will end on September 30.

A total of 234 foreign investments were made in Myanmar between October 1, 2019 and September 7, including expansion plans carried out by existing businesses in Myanmar and investments under the Special Economic Zone Law.

The Myanmar Investment Commission plans to hold a final meeting before the end of the fiscal year, during which it will review the final investments for the year.

If all the current investments in the pipe are approved, Myanmar could record a maximum of US$1.3 billion in further FDI for fiscal 2019-20, which will take it past its US$5.8 billion target for the year.

“We will exceed our target if all the investments and new operations now in the pipeline are cleared,” U Thant Sin Lwin said. Myanmar needs an additional US$500 million in approved FDI to hit its target. All investments that comply with Myanmar regulations are expected to be approved
before the end of the month.

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Source : Myanmar Times

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