Myanmar attracts over 5.5 bln USD of foreign investment in FY 2019-20

October 12, 2020

Myanmar attracted foreign investment worth over 5.52 billion U.S. dollars in previous fiscal year (FY) 2019-2020 which ended on Sept. 30, according to figures released by the Directorate of Investment and Company Administration (DICA) on Friday.

From Oct. 1, 2019 to Sept. 30 this year, the Myanmar Investment Commission (MIC) approved 245 foreign investment enterprises.

During the period, power sector attracted most foreign investment with capital of over 1.67 billion U.S. dollars, followed by manufacturing sector with over 1.12 billion U.S. dollars and real estate sector with over 1.11 billion U.S. dollars, the DICA's figures showed.

The amount of total foreign investment capital did not meet the target of 5.8 billion U.S. dollars in last FY 2019-2020, but increased by over 1.36 billion U.S. dollars compared to FY 2018-2019 when it was over 4.15 billion U.S. dollars, the figures said.

"Currently, we still set the target of 5.8 billion U.S. dollars' foreign investment capital for present FY 2020-2021 as we guess that we can reach the target this fiscal year," an official from DICA told Xinhua recently.

Singapore, China and Thailand are largest investors in Myanmar.

Regionally, the Yangon region attracts 60 percent of investment from both home and abroad, followed by Mandalay region with 30 percent and the rest flowed into other regions and states.