Jul 11, 2013

Myanmar receives over US$ 423 million foreign investment

Foreign companies from five countries have invested over US$ 423 million in Myanmar between May 31st to June 30th of this year, according to the Directorate of Investment and Companies Administration (DICA).

The DICA said that companies from China, Thailand, Britain, Singapore and India invested in production and hotel sectors.

The total investment from Thailand is US$ 379 million, Singapore US$ 23.68 million, Britain US$15.835 million, China US$ 4.1 million and India US$ 9.6 million.

Last month, the DICA gave permissions to 14 enterprises which will invest in Myanmar under the Foreign Investment Law.

The international firms used to invest in major sectors such as oil and gas, mining and electric power in previous fiscal years.

At present, they are running in production sector, garment industry and other investment sectors. Total foreign investment from 32 countries in Myanmar is over US$ 42 billion as at May 31.

China remains the biggest investor in Myanmar with over US$ 14,185 million according to statistics this year.

Source: Eleven Weekly Media