THE manufacturing sector absorbed foreign direct investments worth US$520.7 million through 79 projects in past five months (Oct-Feb) of current financial year, according to statistics provided by the Directorate of Investment and Company Administration (DICA).
Between 1 October and 28 February, FDI of $1.7 billion including expansion of capital were brought into the country. Myanmar Investment Commission (MIC) and the respective investment committees of the states and regions allowed 109 enterprises to invest in the country.
The agriculture sector attracted four foreign investment with a capital of $14 million. Livestock and Fisheries sector witnessed seven foreign investment projects worth $33.9 million.
Two projects worth $93 million invested in power sector. Similarly, two foreign projects pulled in capital of $680.56 million into transport and communication sector. The real estate sector also received investments worth $54 million from one project.
The hotels and tourism sector attained FDI of $6.34 million from two foreign investment project. Industrial estate sector also attracted one project worth $48.45 million. Over $239 million of FDIs were pumped into other services.
MIC targets to attain $5.8 billion of FDIs for next fiscal year 2018-2019, according to the DICA. FDI registered at $1.76 billion in the past mini-budget period, $5.7 billion in FY 2017- 2018, $6.6 billion in FY 2016-2017 and $9.4 billion in FY 2015-2016 respectively.—GNLM (Translated by Ei Myat Mon)
