Power sector tops Myanmar's foreign investment in seven months of FY 2019-20

  • 📰 staronline
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 75%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

YANGON: The power sector topped Myanmar's foreign direct investment (FDI) with over US$1 billion of investment capital from six permitted foreign enterprises in first seven months of current fiscal year (FY) 2019-2020, government figures showed on Monday (May 25).

As of April 30 of present FY, Myanmar attracted a total of over US$3.35 billion in foreign investment, according to figures released by Myanmar's Directorate of Investment and Company Administration on Monday.

According to DICA's figures, the real estate sector stood second with US$895mil, followed by the manufacturing sector with US$544mil and others. From FY 1988-1989 to April 30 of FY 2019-2020, which started in October, 26.07% of foreign investment flowed into the country's power sector with capital of over US$22.2 billion, the DICA's figures said.

In last FY 2018-2019, total annual FDI in the country amounted over US$4.15 billion. - Xinhua/Asian News Network

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines