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Myanmar attracts $109.6 mln of FDI from China in past four months

Sixteen China-listed enterprises brought in US$109.6 million into Myanmar in the past four months (Oct-Jan) of the six-month mini-budget period, according to data released by the Directorate of Investment and Company Administration (DICA). Singapore has been the top source of FDI so far, investing $275.7 million. China is placed as the second largest investor of Myanmar.

Those enterprises listed from China, Singapore, India, Republic of Korea, France, Hong Kong (SAR), Nepal, China (Taipei) and Seychelles also made investments this year. Chinses companies primarily made investment in manufacturing sector. Myanmar has drawn foreign direct investment of more than US$506.82 million during Oct-Dec period, including expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, DICA’s statistics indicated.

Of 32 foreign enterprises permitted and endorsed by MIC and the respective investment committees during Oct-Jan period, 23 enterprises pumped FDI into the manufacturing sector. Agriculture, electricity, construction, and hotels and tourism sectors received one each project, livestock and fisheries sector attracted two projects, and three enterprises made investment in other service sectors.

Source: The Global New Light of Myanmar

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