The oil and gas sector stands top in the list of Foreign Direct Investment (FDI) in Myanmar

From 1988-1989 FY to 2018-2019 FY, the government gave the greenlight to 1725 investments worth over 80.234 billion USD, with the oil and gas sector topping the list, according to the figures released by the Myanmar Investment Commission (MIC).

The oil and gas sector topped the list with over 22 billion USD, accounting for 27.94 per cent of the total FDI, the energy sector, second, with over 21 billion USD or 26.40 per cent, the production sector, third, with nearly 11 billion USD or over 13 per cent, the transport and communication sector, over 10 billion USD or over 13 per cent. 

The real estate sector accounts for over six per cent of the total FDI, the hotel and tourism sector, for around four per cent, the mining sector, for over three per cent and other services sector, for over three per cent. 

The MIC allows the permits for special economic zones according to the relevant Special Economic Zone Laws. Currently, the Thilawa Special Economic Zone only can start its operation. 

Since its inception till late May, the MIC allowed the permits to more than 110 foreign investments in the sectors of production, trade, other services, transport, housing, hotels and tourism. The inflow of FDI into the Thilawa SEZ amounted to over 1.7 billion USD. 

The total investments during 30 years plus the inflow of FDI into the Thilawa SEZ reached nearly 82 billion USD. 

Myanmar is implementing the 20-year Myanmar Investment Promotion Plan to ensure that Myanmar becomes a middle-income country by 2030. 

In addition, the total FDI inflow is set to reach over 220 billion USD during the next 20 years. The inflow of more responsible investments into the country is expected. 

The 20-year Myanmar Investment Promotion Plan is the short-term plan (2016-2017 to 2020-2021), the  mid-term plan (2021-2022 to 2025-2026) and the long-term plan (2026-2027 to 2035-2036).

(Eleven Media Group: https://elevenmyanmar.com/news/oil-and-gas-sector-stands-top-fdi-list )

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