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Foreign investment slumps by nearly US$ 650 million

Foreign direct investment (FDI) as of the end of November in the current fiscal year slumped by nearly US$650million when compared to the similar period last year, according to statistics released recently by the Directorate of Investment and Company Administration (DICA).

In the same period, FDI of US$3,943.184million entered Myanmar in the 2015-2016 fiscal year, with investment in 129 projects. Foreign investments of US$3293.616million flowed into 71 enterprises in Myanmar as of the end of November this fiscal year, with FDI of US$1,615.892million in the Transport and Communication sector, US$728.215 million in the manufacturing sector, US$605.672million in the power sector, US$105.000million in the real estate sector, US$97.226million in the hotels and tourism sector, US$86.688million in the livestock and fisheries sector and US$54.923million in other services, according to the statistics of DICA.

Myanmar Citizen Investments as of the end of November in this fiscal year amounted to Ks12,357,648.568million with a total of 1,223 projects. The Myanmar Citizens investments consisted of Ks2410475.860million in manufacturing, Ks2,235,982. 420million in transport, Ks2,148,031.780million in real estate development, Ks1,350,030.957million in hotels and tourism, Ks942,991.690million in construction, Ks575,305.800million in industrial estate, Ks456,681.422million in power, Ks1,38037.711million in mining, Ks66,764.104million in livestock and fisheries, Ks50,713.390million in agriculture and Ks1,982,633.434million in other sector, according to DICA.

The Myanmar Investment Commission (MIC) reviews investment proposals on the basis of the opinions and assessments of relevant regional and state governments to check whether the proposal meets the criteria before approval is granted.

Source: Global New Light of Myanmar

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