China remains Myanmar’s largest foreign investor


A general view of Shwe Gas terminal in Kyauk Phyu, Rakhine state, western Myanmar. Photo: Nyunt Win/EPA

According to data released by the Directorate of Investment and Company Administration (DICA), China remains Myanmar’s largest foreign investor with 163 projects valued at US$18.5 billion as of February this year.

Singapore stands in second place with investments of $16.65bn spread throughout 230 projects, while Thailand is third with $10.6bn invested in 100 projects, according to today’s Global New Light of Myanmar.

Citing DICA figures, the report said, “The majority of foreign direct investment (FDI) went to the oil and gas sector, followed by power, transport and communication, manufacturing, real estate, mining, hotels and tourism, livestock and fisheries, agriculture, industrial estate, construction and other services.”

Other financial news marking the end of the 2016-17 fiscal year on 31 March came from the Ministry of Commerce, which said that Myanmar’s trade deficit had reached $5.27bn. State-run media this morning also said that the total value of imports before the end of the 2016-17 fiscal year hit US$16.150 billion, increasing nearly $240 million when compared with the same period last year, according to data from the Ministry of Commerce.

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