The volume of Foreign Direct Investment (FDI) has doubled from the beginning of this new fiscal year to the second week of December 2018 when compared to the same period of last fiscal year

From the beginning of this new fiscal year, to the second week of December, the amount of Foreign Direct Investment (FDI) has doubled compared to the same period last year, according to Directorate of Investment and Company Administration.

Myanmar changed the fiscal year format from April-March to October-September, starting from 2018-2019 fiscal year.

During 2017-2018 fiscal year, the volume of foreign direct investment reached over $355 million from October to the second week of December while this fiscal year’s FDI hit $749 million during the same period.

“During the last fiscal year, there were only 19 projects in Yangon, this year though received 25 projects. Last year, Kayah State and Tanintharyi Region didn’t receive any FDI compared to this year which Kayah State received one project and Tanintharyi Region has received two projects. There are also new FDI flowing into Mon State and Thialawa SEZ,’’U Aung Naing Oo, General Director of DICA, said.

Service, telecommunications and industrial sectors saw more foreign direct investment compared to other sectors during the same period of last year. From October to the second week of December of last year, the service sector received $15 million, telecommunication sector $208 million and industrial sector $81 million respectively, compared to this fiscal year which saw $148 million in service sector, $415 million in telecommunications sector and $135 million in industrial sector.

DICA estimates the total amount of FDI this fiscal year will reach $5.8 billion. In 2017-2018 fiscal year, Myanmar received $5.7 billion FDI.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/fdi-doubles-compared-same-period-last-fiscal-year )

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