POST Online Media Lite Edition


Singapore tops investor list in Myanmar

Staff writer |
April and May saw investment of more than $2.3 billion from 11 countries and Hong Kong, according to the Directorate of Investment and Company Administration (DICA) of Myanmar.

China, Brunei, Hong Kong, India, Indonesia, Japan, Malaysia, Korea, Thailand, the Netherlands and the UK are among the biggest investors but Singapore tops the list with $1.4 billion.

Since the 1988-89 financial year, foreign investment has reached $56.5 billion.

Investment mostly goes to the energy production sector and mainly oil and gas. The number of investment companies working in the production sector is 497 while there are only 151 in the oil and gas sector.

Despite the relatively small of numbers of investors, far more capital flows into the energy sector.

In 2014-15, there was an inflow of more than $8 billion, according to the DICA.

The Myanmar Investment Commission wants to implement a plan for sustainable foreign direct investment with $6 billion set to arrive in 2015-16.

What to read next

Myanmar new hot tourist destination
Myanmar sends over 17,000 migrant workers abroad in September
17 countries invest in Myanmar's Thilawa SEZ