Foreign investment in Myanmar sees sharp rise

23 April 2015
Foreign investment in Myanmar sees sharp rise
Myanmar is a popular frontier destination for foreign investors. Here, over 800 international and local business leaders, policymakers, financiers and economists attend the Myanmar Global Investment Forum at the Myanmar International Convention Centre Two in Nay Pyi Twa, Myanmar on September 16, 2014. Photo: Hein Htet/Mizzima

Myanmar received record foreign direct investment of more than US$8 billion in the 2014-15 financial year, according to Deal Street Asia on April 22.
According to the Directorate of Investment and Company Administration, foreign direct investment in Myanmar has grown sharply since 2012 and in 2014-15 nearly doubled from the year before.
The 2013-14 financial year saw $4.1 billion in foreign direct investment.
Among the sectors attracting foreign investment during the fiscal year ended on March 31, the oil and gas sector led with $3.2 billion, followed by transport and communication with approved capital of $1.7 billion, manufacturing with $1.5 billion, real estate with $780 million and hotel and tourism with $360 million, according to the report.
Myanmar has a target of $6 billion in FDI in the current 2015-16 budget year, according to an official.
Myanmar received $54.2 billion in foreign direct investment from 895 permitted companies from 38 countries from 1988-2015. China remains the top investor in Myanmar, with 74 Chinese enterprises having invested $14.8 billion, followed by Thailand with $10.3 billion and Singapore with $8.8 billion.