Myanmar attracts over $2.4bn foreign investments | 2019-05-24 |

Myanmar attracts over $2.4bn foreign investments

24 May, 2019 12:00 AM printer

YANGON: Myanmar has attracted over 2.41-billion-U.S. dollar foreign investments in the first seven months of the present fiscal year 2018-2019, according to the Directorate of Investment and Company Administration (DICA) on Thursday.

Myanmar Investment Commission (MIC) permitted 150 foreign projects as of April 30 in FY 2018-19 which started in October 2018, reports Xinhua.

During the period, transport and communication sector topped the list with over 1.16 billion U.S. dollars, followed by the manufacturing with over 668.3 million U.S. dollars. Singapore registered the largest investor with 20 projects worth over 1.57 billion U.S. dollars.

Yangon region attracts 60 percent of both local and foreign investments, followed by Mandalay with 30 percent.