FDI Expected to Exceed $6bn

Total foreign direct investment (FDI) is expected to reach US$6.1 billion in 2017-18, according to the Directorate of Investments and Company Administration (DICA).

Aung Naing Oo, the director-general of the DICA, said: “We draft our projects based on the National Comprehensive Development Plan of 2011-2030. Under the project, the FDI is set to reach up to US$140 billion between 2014 and 2030. In doing so, the average inflow of investment between 2016 and 2020 is set to hit US$6 billion annually.”

Five years ago, the annual FDI was expected to reach US$4 billion but since 2016 it was US$6 billion. It was US$6.8 billion in 2016-17. In 2021, we would increase the estimation of our annual FDI inflow, he added.

Under the Foreign Investment Law, the Myanmar Investment Commission granted 15 investment permits worth US$79.4 million at its first meeting held for this financial year on April 5, according to the DICA.

 

Source: Eleven Myanmar

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