Home MMBIZ News Contracted FDI Reaches $44 Billion

Contracted FDI Reaches $44 Billion

Contracted foreign investments in Myanmar have reached $44.2 billion as of December 31, 2013, according to official figures from the Directorate of Companies and Investment Administration (DICA).

During January to December, the Myanmar Investment Commission (MIC) has permitted 118 foreign firms to either set up a joint venture with local firms or to establish their own businesses.

The permitted foreign investments were made in sectors such as cigarette manufacturing, brewery, vehicle services, foodstuff processing, IT services, bamboo fibre products and medicines.

The top three foreign investors in 2013 are China, Thailand and Hong Kong.

Power, oil and gas and manufacturing top the list of sectors receiving the highest amount of foreign investments.

- Advertisment -

Must Read

Central Bank to sell $1.6 million through money changers

After the dollar rate drastically surged from around K1,300 per dollar before February to K1,720 within just over three months, the Central Bank of...