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Myanmar attracts $2.4b foreign investments in 7 months of current fiscal

Published: May 23, 2019 15:32:57 | Updated: May 28, 2019 12:25:18


File Photo (Collected)

Myanmar has attracted over 2.41 billion US dollar foreign investments in the first seven months of the present fiscal year 2018-2019, according to the DICA.

The Directorate of Investment and Company Administration (DICA) revealed the information on Thursday, reports Xinhua.

The Myanmar Investment Commission (MIC) permitted 150 foreign projects as of April 30 in FY 2018-19 which started in October 2018.

During the period, transport and communication sector topped the list with over $1.16 billion, followed by the manufacturing with over $668.3 million.

Singapore registered the largest investor with 20 projects worth over $1.57 billion.

Yangon region attracts 60 per cent of both local and foreign investments, followed by Mandalay with 30 per cent and the rest flows into other regions and states.

Meanwhile, the country's foreign trade reached over $21.2 billion as of May 10 in present FY 2018-19, according to the Commerce Ministry's figures.

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