Jun 16, 2015

Singapore tops investor list

April and May saw investment of more than US$2.3 billion from 11 countries and Hong Kong, according to the Directorate of Investment and Company Administration (DICA).

China, Brunei, Hong Kong, India, Indonesia, Japan, Malaysia, Korea, Thailand, the Netherlands and the UK are among the biggest investors but Singapore tops the list with US$1.4 billion.

Since the 1988-89 financial year, foreign investment has reached US$56.5 billion.

Investment mostly goes to the energy production sector and mainly oil and gas. The number of investment companies working in the production sector is 497 while there are only 151 in the oil and gas sector.

Despite the relatively small of numbers of investors, far more capital flows into the energy sector.

In 2014-15, there was an inflow of more than US$8 billion, according to the DICA.

The Myanmar Investment Commission wants to implement a plan for sustainable foreign direct investment with US$6 billion set to arrive in 2015-16.

Source: Eleven Weekly Media