7 October

FOREIGN  direct  investment  of  US$1.538  billion  has  flowed  from  four  enterprises  into  the  transport and communications sector  in  the  past  fiscal  year  2018-2019, according to statistics provided  by  the  Directorate  of  Investment  and  Company  Ad-ministration (DICA). 

Between  1  October,  2018  and 30 September, 2019, FDI of $4.15  billion,  including  expansion  of  capital,  has  flowed  into  the  country.  The  Myanmar  In-vestment  Commission  (MIC)  and the investment committees of  states  and  regions  have  al-lowed 282 enterprises to invest in the country. 

The manufacturing sector has  absorbed  FDI  of  $1.34  billion from 225 projects in the last Financial Year. The agriculture sector has attracted six foreign investment projects with a cap-ital of $19 million. The livestock and fisheries sector has drawn 14 foreign investment projects worth $156.89 million. Two projects worth $93.28 million have been  approved  in  the  power  sector. 

The real estate sector has also raked in $210.9 million from four foreign projects. The hotels and  tourism  sector  has  drawn  an FDI of $82.6 million through seven new projects. The industrial  estate  sector  has  also  attracted one project worth $48.45 million. Over $650.74 million in FDI has been pumped into the other services sector. 

The  MIC  set  an  FDI  tar-get  of  $5.8  billion  for  the  2018-2019 FY,  but  it  fell  short  of  reaching the target as the MIC carefully  and  systematically  screened the proposals, according to the DICA. 

Unlike before, the DICA has tightened investment screening, and is following up the history, responsibility,  and  reputation  to  check  whether  there  are  bankruptcy and insolvency re-cords of investment enterprises. Therefore, the FDI target was not  reached  this  fiscal  year,”  said U Thant Sin Lwin, the director-general of the DICA. 

Foreign  direct  investment  into  Myanmar  was  registered  at  $1.76  billion  in  the  last  mini-budget period, $5.7 billion in the 2017-2018 FY, $6.6 billion in the 2016-2017 FY, and $9.4 billion in the 2015-2016 FY.

GNLM  (Translated  by  Ei  Myat  Mon)