Myanmar attracts over 3.5 bln USD of foreign investment in 10 months

Source: Xinhua| 2019-08-26 15:26:52|Editor: xuxin
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YANGON, Aug. 26 (Xinhua) -- More than 3.5 billion U.S. dollars of foreign investment entered Myanmar from 224 enterprises permitted by the Myanmar Investment Commission (MIC) as of July 31 in present fiscal year 2018-2019, according to figures released from the Directorate of Investment and Company Administration (DICA) on Monday.

From October 2018 to July 31 this year, the transport and communication sector attracted most investments with over 1.5 billion U.S. dollars of capital, followed by manufacturing sector with over 1.14 billion U.S. dollars.

Foreign investments also flowed into the country's agriculture, livestock and fisheries, power, oil and gas, hotel and tourism, real estate, industrial estate and other services sectors.

During the 10-month period, Myanmar's mining and construction sector did not see any foreign investment inflow, according to the DICA's figures.

From FY 1988-1989 to July 31 of this FY 2018-2019, a total of 1,779 enterprises were permitted with more than 81.2 billion U.S. dollars so far.

During the period, the country's oil and gas, power and manufacturing sectors are listed as the top-three sectors with most foreign investments.

Regionally, Yangon region attracts 60 percent of investments from both home and abroad, followed by Mandalay with 30 percent and the rest flows into other regions and states.