Between July and August last year, Myanmar allowed only one foreign investment worth more than $ 5 million

According to figures released by the Directorate of Investment and Company Administration (DICA), Myanmar was only allowed to invest more than $ 5 million in foreign investment between July and August. Between July and August 2021, Myanmar allowed only $ 5.3 million in foreign investment in the manufacturing sector. Investment in the livestock and fisheries sector increased by more than $ 0.4 million. During the two months, total foreign investment was $ 5.778 million, including increased investment.

In the first 11 months of the current fiscal year, Myanmar has allowed more than $ 3.7 billion in foreign investment, the most in the energy sector, at more than 80 percent, according to the Directorate of Investment and Company Administration (DICA). In the 11 months from October 1, 2020 to the end of August 2021, the fiscal year 2020-2021, Myanmar has approved up to 45 investment projects worth over $ 3.767 billion. Of those, six were allowed to invest in the energy sector, with a total investment of $ 3.121 billion. The maximum allowed is over 82%.

In the agricultural sector, two businesses worth nearly $ 10 million; Six in the livestock and fisheries sector worth more than $ 19 million; In the manufacturing sector, 24 businesses worth more than $ 262 million; A hotel business worth over $ 81 million in the hotel and tourism sector; A business worth more than $ 28 million in the industrial zone development sector; In the service sector, five businesses worth more than $ 103 million; More than $ 133 million in transportation and communications; In the real estate sector, more than $ 8 million has been approved in various sectors. In the 33 years from the 1988-1989 fiscal year to the end of July 2021, Myanmar allowed more than $ 91 billion in foreign investment, according to DICA.

Source: Daily Eleven

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