REUTERS: Foreign direct investment (FDI) in Myanmar during the fiscal year that ended in March totalled US $ 9.4 billion for 217 projects, official data showed yesterday.
Myanmar saw a record-high inflow in the last fiscal year under the former semi-civilian government, according to data compiled by the Directorate of Investment and Company Administration.
The investment reflects growing, if still cautious, interest in one Asia’s last remaining untapped markets and a rush of last-minute approvals before the handover of power to Aung San Suu Kyi’s administration.
Myanmar received US $ 8 billion in FDI in 2014/15, compared with US $ 4.1 billion in 2013/14.
The oil and gas sector attracted the biggest investment last fiscal year, followed by transport and communication and manufacturing.
Singapore, which put US $ 4.3 billion into 55 projects, topped the list of foreign investors followed by China, Myanmar’s biggest trading partner, which invested US $ 3.3 billion.