The actual foreign investment flowed to Myanmar reached over USD $ 2,766 million though approved USD $ 4,250 million in the 2018 – 2019 fiscal year

Although Myanmar approved a total foreign investment of over US$4,520 million in 2018-2019 fiscal year, an actual flow of investment from 28 countries amounted to just over US$2,766 million, according to a summary report on the activities of Myanmar Investment Commission during the period from October 1, 2018 to September 30, 2019. 

MIC held 21 meetings in the previous financial year discussing investment matters. 

In the period, MIC approved 282 new businesses with a total investment of US$2,764.128 million and an additional investment of US$1,394.346 million to the existing 97 businesses. 

Meanwhile, Thilawa Special Economic Zone approved 16 businesses with US$362.280 million in foreign investment. Therefore, total foreign investment approved in the previous fiscal year amounted to US$4,520.754 million. 

Despite such an amount of investment approved, actual foreign investments made by 28 countries flowing to Myanmar amounted to US$2,766.117 million. 

During the four-year period of the incumbent government’s term, Myanmar has seen over US$21 billion in foreign investment, mostly in the sectors of manufacturing, transport, communication and services. 

Foreign investments are usually allowed in 12 economic sectors such as oil and gas, electricity, manufacturing, transport, communication, real estate, hotel and tourism, mining, livestock and fishery, agriculture, industry, construction and other services. 

(Eleven Media Group: https://elevenmyanmar.com/news/over-2766-m-of-approved-s4520-m-in-foreign-investment-flowed-to-myanmar-last-year )

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