YANGON (XINHUA) – Myanmar’s foreign direct investment (FDI) declined year-on-year, with USD587.242 million attracted in the first eight months of the 2023-24 fiscal year, according to the Directorate of Investment and Company Administration (DICA) yesterday.
The Southeast Asian country attracted more than USD1.45 billion in the same period of the previous fiscal year 2022-23, the DICA’s figures showed.
From April 1 to November 30 this year, the Myanmar Investment Commission (MIC) approved 45 foreign investment enterprises, the DICA said.
During the eight-month period, the power sector attracted the most foreign investment with capital of over USD374 million, followed by the manufacturing sector with over USD102 million and the transport and communication sector with over USD77 million, it said.
Singapore, China and Thailand are the largest investors in Myanmar during the period, the DICA data showed.
