Foreign Investment in Myanmar Set to Miss Target: MIC

Topic: 

Economy, FDI, Finance, Foreign Investment, Investment, Myanmar Investment Commission

Description: 

"Myanmar is likely to fall short of its foreign investment target in the 2018-19 fiscal year, according to U Thant Sin Lwin, director of the Myanmar Investment Commission (MIC). Myanmar has so far only received US$4.1 billion (6.29 trillion kyats) of inbound foreign investment in the current fiscal year, which ends on Sept. 30. “We still need US$1.7 billion to meet our target,” said U Thant Sin Lwin. Some foreign investors have inquired about the potential to invest in the infrastructure, electricity and energy sectors, which require substantial investment. Discussions are ongoing and the potential investment in the next two weeks will not make up for the current deficit, added U Thant Sin Lwin. The Japanese-backed Thilawa Special Economic Zone in Yangon Region has attracted US$223.68 million in foreign investment this fiscal year..."

Creator/author: 

Myo Pa Pa San

Source/publisher: 

"The Irrawaddy"

Date of Publication: 

2019-09-09

Date of entry: 

2019-09-10

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar

Language: 

English

Resource Type: 

text

Text quality: 

    • Good