Foreign

Myanmar attracts over 348 mln USD in foreign investment in Q1 of FY 2020-2021

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Myanmar attracted investment capital of over 348 million United States dollars from permitted foreign enterprises in first quarter of the present fiscal year (FY) 2020-2021 starting October, according to figures issued by the Directorate of Investment and Company Administration (DICA) on Monday.

In the cited quarter of the current fiscal year, the Myanmar Investment Commission (MIC) gave the go-ahead to 23 foreign investment enterprises.

During the period, the manufacturing sector attracted most investment capital with over 158 million United States dollars, followed by the hotel and tourism sector with over 81 million United States dollars and the electricity power sector with over 48 million United States dollars, the DICA figures showed.

In last FY, Myanmar attracted over 5.5 billion United States dollars in investment from 245 permitted foreign enterprises.

Singapore, China and Thailand are top leading investors in Myanmar.

Regionally, the Yangon region attracts 60 percent of the investment from both home and abroad, followed by Mandalay region with 30 percent.

(XINHUA)

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