November 15, 2019
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Foreign investment in Myanmar up 24 pct in 4 months of FY 2013-14

Contracted foreign investment in Myanmar amounted to 1.77 billion U.S. dollars in the first four months (April-July) of the fiscal year 2013-14, up 26 percent or 0. 37 billion dollars, an official said here Friday.

Of the total,, Japan injected 0.18 billion dollars into five enterprises, accounting for 10 percent, said U Aung Naing Oo, director general of the Directorate of the Investment and Company Administration (DICA) under the Ministry of National Planning and Economic Development.

Contracted foreign investment in Myanmar from 32 countries and regions hit 42.95 billion dollars between 1988 and the end of July 2013, according to the latest official figures.

China took the lead with 14.188 billion dollars, accounting for 33.04 percent of the total foreign investment, followed by Thailand (9.979 billion dollars), China's Hong Kong Special Administrative Region (6.404 billion dollars), Britain (3.045 billion dollars), South Korea (3.018 billion dollars), Singapore ( 2.358 billion dollars) and Malaysia (1.034 billion dollars).

Sectorally speaking, the power sector took the lead with 19.237 billion dollars, accounting for 44.79 percent of the total, followed by oil and gas (14.372 billion dollars), mining (2.829 billion dollars), manufacturing (2.749 billion dollars), hotels and tourism (1.585 billion dollars) and real estate (1.056 billion dollars).

Myanmar's new foreign investment law, promulgated in November 2012, allows foreigners to make full investment and to establish joint ventures with local citizens or related government departments or organizations on mutually-agreed ratio of investment.

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