29 December 2016
THE MYANMAR Investment Commission is confident of reaching its $6 billion (Bt216 billion) target for foreign direct investment in the 2016 fiscal year to March 31, although the nine-month figure accounts for only slightly half of the target.
Despite the decline in FDI inflow, Aung Naing Oo, director-general of the Directorate of Investment and Company Administration and secretary of the MIC, believes that Myanmar will enjoy an FDI influx in the last three months of fiscal 2016, even surpassing its target.
Yet, this year’s inward FDI would be much less than that of the previous year’s $9 billion.
Telecommunications has mainly attracted foreign investors, accounting for 47.1 per cent of the total inflow, followed by manufacturing at 25.5 per cent and power at 17.5 per cent.
Other promising industries are hotels and tourism, transportation, services, livestock and fisheries.
Source: Eleven Myanmar
Illustration Photo: Myanmar prawn fishing vessel (Credit: Delphinidaesy / Flickr CC BY-NC 2.0)
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