Foreign investment inflows to double: Myanmar govt

Approved foreign direct investment (FDI) into Myanmar is expected to grow this year, the Myanmar Investment Commission (MIC) says.

“Currently, FDI in the country shows obvious growth in the current fiscal year. We have received around US$500 million a month so far for this fiscal year so it shows promise of good growth,”’ said U Thant Sin Lwin, secretary of the MIC and also director general of the Directorate of Investments and Company Administration (DICA).

As of January 10, MIC has approved investments in projects totalling US$1.5 billion since the start of FY2019-20 on October 1, 2019. According to DICA, during the same period it approved investments totalling some $800 million for 60 projects.