SINGAPORE is the top investor in Myanmar during the April-January period of the current financial year 2024- 2025, with an estimated capital of US$446.65 million including the expansion of capitals by existing enterprises, the Directorate of Investment and Company Administration’s statistics showed.
Singapore-listed companies put investments into urban development, real estate, transport and communication, oil and gas, power and manufacturing sectors. Myanmar Investment Commission gave the green light to three Singapore-listed enterprises in the past ten months.
China stood as the second largest investor this FY with an estimated capital of over $83 million made by 30 newly approved enterprises and existing ones. Thailand is ranked third in the line-up with more than $46 million from two new businesses and the existing ones.
Myanmar Investment Commission greenlighted 52 foreign projects from 11 countries — China, Chinese Taipei, Hong Kong SAR, India, Indonesia, Singapore, Thailand, Republic of Marshall Islands, the Russian Federation, Japan, and the UAE – to make investments of over $656 million in the past ten months, including expansions of capital by existing enterprises.
The oil and gas sector witnessed a capital expansion of $357 million. The manufacturing sector drew $148.6 million, the transport and communication sector attracted $87.7 million and the services sector received over $51 million. The remaining FDI flowed into agriculture, livestock, fisheries and power respectively.
Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of $345 million in the 2023-2024 FY, $1.158 billion in the 2022-2023 FY and $297 million in the 2021-2022 mini-budget period (from October to March).
Moreover, Singapore is one of the leading foreign investors in the Thilawa Special Economic Zone. — KK
