FDI by nine Asean countries hit over 38 bln USD

21/10/2019    45

Till 30 September since 1988-89 fiscal year, the foreign investments by nine Asean countries in Myanmar, reached 38.155 billion US dollars, accounting for 46.6 per cent of the total FDI, according to the figures released by Directorate of Investment and Company Administration (DICA). 

During this period, 50 countries made 1,837 investments worth 81.874 billion US dollars. 

Nine major Asean countries that invested in Myanmar are: Singapore, Thailand, Vietnam, Malaysia, Indonesia, the Philippines, Brunei, Cambodia and Laos. 

Singapore tops the list of top 50 foreign investors with the total investment of over 22 billion US dollars. Thailand stands third with over 11 billion US dollars. Vietnam is ranked 7th place with over two billion US dollars. Malaysia stands on the 8th place  with around two billion US dollars. Indonesia is ranked 14th place with over 270 million US dollars, the Philippines, 17th place with around 150 million US dollars, Brunei, 20th place with over 110 million US dollars, Cambodia, 30th place with over 24 million US dollars and Laos, 48th place with less than one million US dollars. 

According to Malaysia-Myanmar Connect 2019 held in Yangon on August 30, five top businesses from Malaysia plan to make investments in Myanmar in the year to come. 

During 31 years, 11 sectors which see the massive influxes of FDI are: oil and gas sector, energy, production, transport and communications, real estate, housing, hotels and tourism, mining, livestock and fishery, agricultural and industrial zone sectors. 

The FDI granted under the Special Economic Zone Law for Thilawa Special Economic Zone, amounted to 1.861 billion US dollars. A total of 19 countries have invested in Thilawa Special Economic Zone. ASEAN countries invested in the Thilawa SEZ are: Singapore, Thailand, Malaysia and Vietnam. 

Myanmar is implementing the 20-year Myanmar Investment Promotion Plan to enable Myanmar to become a middle-income country in 2030. 

Source: Eleven Myanmar