Actual FDI Hits $3.7 Billion This FY, Says MIC

The actual inflow of foreign direct investments amounted to US$3.7 billion during this fiscal year even though Myanmar Investment Commission has granted US$5 billion.

The MIC releases the FDI lists every month and has issued the actual inflow of FDI twice during 2017-2018 fiscal year.

From 1988-1989 until December of the 2017-2018 fiscal year, the MIC granted over US$75 billion. China has topped the FDI lists, followed by Singapore. Both countries have invested mostly in the oil and gas sector and energy sector.

Under the second five-year National Development Plan (2016-2017 to 2020-2021), the government will carry out the encouragement of FDI inflow, export promotion, promoting the role of private sector, turning regional development projects into commercial cooperation and coordination for private investments.

In addition, the government will scrutinise provisions that bar the country from the inflow of the FDI inflows, reduce land prices and operational difficulties for the establishment of businesses, conduct market research for local businesses, release facts and data, write industrial development polices for development of value-added industries, and develop infrastructures such as power supply and transportation.

Under the plan, the government will attract foreign investors by means of developing the fiscal system, establishing links with the international community, developing monetary policy, creating investment opportunities and running State-owned businesses under a JV, BCC and BOT system in cooperation with private entrepreneurs.

 

Source: Eleven Myanmar

 

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