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July 23, 2019

Oil and gas sector attracts $22.4 billion in FDI

THE OIL and gas sector attracted $22.4 billion in foreign direct investment (FDI) of permitted enterprises as of December last year, according to figures released by the Directorate of Investment and Company Administration.
The Oil and gas sector remains first with 33.33 per cent of total FDI while the power sector is the next highest with 30.18 per cent, followed by manufacturing with 11.11 per cent, transport and communications with 9.99 per cent, real estate with 4.72 per cent, mining with 4.31 per cent, hotel and tourism with 3.78 per cent, livestock and fisheries with 0.81 per cent, agriculture with 0.37 per cent, industrial estate with 0.30 per cent, construction with 0.06 per cent and others with 1.05 per cent.
The DICA figures indicate that the power sector attracted $20.290 billion in FDI, while $7.468 billion in FDI came to the manufacturing industry, $6.714 billion to transport and communication, $3.171 billion to real estate, $2.897 billion to mining, $2.543 billion to hotel and tourism, $547 million to livestock and fisheries, $249 million to agriculture, $203 million to industrial estate, $37 million to construction and $705 million to other services. According to DICA, foreign investment into 1,189 projects in 12 sectors reached $67.240 billion.—Kyaw Swa

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