More than 1,050 foreign-invested businesses worth $ 25.5 billion have been invested in Myanmar during the current government’s five-year term

From the 2016-2017 fiscal year to the end of 2020, the amount of foreign investment in Myanmar reached over $ 25.5 billion, according to the Directorate of Investment and Company Administration. From the 2016-2017 fiscal year to the end of 2020, 995 foreign-invested companies have invested in Myanmar, ranging from $ 24.165 billion. According to the SEZ law, 60 foreign-invested businesses in the Thilawa SEZ have invested up to $ 1.382 billion. During that period, 1,055 foreign-invested companies in Myanmar invested a total of $ 25.548 billion. During this period, production in Myanmar; Transportation; Housing development; Energy Hotel and tourism; Livestock and fisheries; Construction of industrial zones; Oil and gas; Agriculture; Mining; Foreign investment was the main source of investment in 11 sectors, including services.

In the manufacturing sector, 719 companies invested $ 6.289 billion, accounting for more than 26 percent of the total. In the transport sector, 29 companies invested $ 6.135 billion, accounting for more than 25 percent of the total. $ 3.6 billion investment in housing development; $ 3.222 billion in investment in the energy sector; More than $ 806 million invested in the hotel and tourism sector; Over $ 463 million invested in the livestock and fisheries sector; More than $ 390 million invested in industrial zone construction; More than $ 360 million in investment in the oil and gas sector.

 More than $ 190 million in investment in the agricultural sector; More than $ 11 million has been invested in the mining sector and more than $ 2.6 billion in the services sector. The director-general of the Directorate of Investment and Company Administration said that the Myanmar Investment Commission has received proposals for 24 projects worth $ 3.5 billion in foreign investment for the 2020-2021 fiscal year. For the next year, they have 24 proposals that the Investment Commission has to consider and then discuss the need. The value of the 24 proposals is estimated at US $ 3.5 billion.

Source: Daily Eleven

Tags: No tags

Leave A Comment

Your email address will not be published. Required fields are marked *