YANGON, April 11 (Xinhua) -- Myanmar has expected over 6 billion U.S. dollars of foreign investment inflow in this fiscal year 2017-2018, official media reported Tuesday.
It is the annual target from 2016 to 2020, said U Aung Naing Oo, secretary of Myanmar Investment Commission (MIC) and director general of Directorate of Investment and Company Administration (DICA).
Myanmar Investment Commission (MIC) permitted 15 foreign enterprises' investment worth 79.464 million U.S. dollars in the first week of April, bringing the total to 164.375 million U.S. dollars at the beginning of this fiscal year 2017-18 and creating 9478 job opportunities.
As of previous fiscal year 2016-2017 which ended in March, the country drew a total of foreign investments worth of 70.35 billion U.S. dollars since 1988.
Although the MIC started to reduce permitting of foreign investment in oil and gas sector in last year, this sector stood as the largest invested sector by foreign enterprises amounting 22.41 billion U.S. dollars since 1988 as of March, according to the statistics of DICA.