Myanmar attracts over USD348M in foreign investment in Q1 of FY 2020-2021

YANGON (XINHUA) – Myanmar attracted investment capital of over USD348 million from permitted foreign enterprises in first quarter of the present fiscal year (FY) 2020-2021 starting October, according to figures issued by the Directorate of Investment and Company Administration (DICA) yesterday.

In the cited quarter of the current fiscal year, the Myanmar Investment Commission (MIC) gave the go-ahead to 23 foreign investment enterprises. During the period, the manufacturing sector attracted most investment capital with over USD158 million, followed by the hotel and tourism sector with over USD81 million and the electricity power sector with over USD48 million, the DICA figures showed.

In last FY, Myanmar attracted over USD5.5 billion in investment from 245 permitted foreign enterprises.

Singapore, China and Thailand are top leading investors in Myanmar.

Regionally, the Yangon region attracts 60 per cent of the investment from both home and abroad, followed by Mandalay region with 30 per cent.