Myanmar drew foreign direct investments of US$567.38 million in the past seven months (April-October), including expansion of capital by the existing enterprises, as per the statistics released by the Directorate of Investments and Company Administration (DICA).
Myanmar Investment Commission (MIC) greenlit 42 foreign projects from seven countries in the past eight months. Singapore is the top source of FDI so far with $337 million in the power sector. China is placed as the second largest investor in Myanmar with $205.215 million.
The FDI inflow into Myanmar amounted to $1.74 million from the Republic of Korea, $1.087 million from the USA, $14.559 million from Hong Kong (SAR), $0.6 million from India, $1.3 million from the Republic of the Marshall Island and $1 million from Samoa respectively.
The power sector topped the FDI line-ups with $374.525 million by the permitted enterprises this FY, without capital expansion by the existing enterprises.
The manufacturing sector was ranked second with $88.788 million. The agriculture sector drew over $2.5 million. Meanwhile, the transport and communication sector saw the capital expansion of $77.82 million. An increase of capital worth $23 million was pumped into the livestock and fisheries sector as well. The existing enterprises in the service sector also saw a capital increase (US$0.619 million).
Source: The Global New Light of Myanmar