Myanmar Total Foreign Investment Reach US $70 billion This Fiscal Year.

Myanmar has received 1,246 different types of foreign investments totaling to more than $70 billion between the 1988-1989 and 2016-2017 fiscal year, according to official statistics of Directorate of Investment and Company Administration (DICA).

The total foreign investment volume from 1988-1989 to 2002-2003 was $7.5billion. The following year investments received totaled $91million in 2003-2004 fiscal year, $158 million in 2004-2005, $6.06 million in 2005-2006, $720 million in 2006-2007, $206 million in 2007-2008, $985 million in 2008-2009, $320 million in 2009-2010, $20 billion in 2010-2011, $4.6 billion in 2011-2012, $1.4 billion in 2012-2013, $4.1 billion in 2013-2014, $8 billion in 2014-2015, $9.5 billion in 2015-2016, and $6.6 billion in 2016-2017.

The energy sector stands at the top of the foreign investment table and the construction sector is at the bottom.

The government allowed the foreign companies to be sole investors or participate through a joint venture. The five-year short-term national development project stated that foreign investment should be encouraged through increased export, incentives to the private sectors, commercial and scaled regional development plans.

 

Source: ElevenMmyanmar

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