FDI expected to hit $ 3 bln during interim period

From April to September this year, the total foreign investment is expected to hit US$ three billion, according to the Directorate of Investment and Company Administration (DICA).

Than Aung Kyaw, Deputy Director-General of the DICA said: “According to the long-term investment plan, the total FDI is expected to reach US$ six billion during each fiscal year.”

The total FDI including investments in Thilawa Special Economic Zone and investment promotions amounted to US$ 193.36 million, according to the Myanmar Investment Commission (MIC).

According to the Special Economic Zone Law, the MIC allowed investments worth US$ 45.30 million in Thilawa Special Economic Zone.

In 2017-2018 FY, the MIC allowed FDI in accord with the economic policy, investment policy and the priority sectors.

Industry sector topped the FDI lists with 31 per cent, followed by housing sector with 22.07 per cent, other service sector, with 17.56 per cent, transport and communications with 15.77 per cent and electricity sector with 7.10 per cent.

Yangon plays a crucial role in the country’s economic growth as most of businesses are located in Yangon. Individual income in Yangon is high as it is an old capital city of Myanmar.

Source : Eleven Myanmar

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