Myanmar attracts 3.5 billion USD in FDI in 10 months
A total 224 foreign enterprises were permitted by the Myanmar Investment Commission (MIC) to invest more than 3.5 billion USD in the country in the first 10 months of the fiscal year 2018 – 2019, said the Directorate of Investment and Company Administration (DICA) on August 26.
Myanmar attracts 3.5 billion USD in FDI in 10 months. (Photo: Reuters)
Hanoi (VNA) – A total 224 foreign enterprises were permitted by theMyanmar Investment Commission (MIC) to invest more than 3.5 billion USD in the country in the first 10 months of the fiscal year2018 – 2019, said the Directorate of Investment and Company Administration(DICA) on August 26.
From October 2018 to July 31this year, the transport and communication sector attracted the most foreign direct investment (FDI) atmore than 1.5 billion USD, followed by the manufacturingsector with some 1.14 USD, China’s Xinhua News Agency reported.
Foreign investment also flowed intothe country's agriculture, livestock and fisheries, power, oil and gas, hoteland tourism, real estate, industrial estate and other services sectors.
During the period, Myanmar's miningand construction sector did not see any foreign investment, according to theDICA's figures.
From the 1988-1989 fiscal year to July 31 of the 2018-2019 fiscalyear, a total of 1,779enterprises have been licensed to invest more than81.2 billion USDin Myanmar.
During the period, the country's oiland gas, power and manufacturing sectors were the top-three sectors with themost foreign investment.
Yangon region attracted 60 percent ofinvestment from both home and abroad, followed by Mandalay with 30 percent.
Myanmar welcomedmore than 3.55 million foreign tourists last year with China accounting for thelargest number, followed by Thailand. Myanmar authorities are striving to luremore foreign travellers to the country in the coming years, targeting towelcome some 7million in 2020. –VNA
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Myanmar attracts 3.5 billion USD in FDI in 10 months. (Photo: Reuters)
