July 12, 2017

Breaking News

Real Estate sector attracts over US$569 million

MYANMAR’S real estate sector attracted US$569 million in foreign direct investment between 1 April to 30 June, according to recent Directorate of Investment and Company Administration (DICA) statistics.
During the same period, total FDI was an estimated $1.96 billion. Foreign investment mainly flowed into agriculture, livestock and fisheries, manufacturing, transport and communication and real estate. Total foreign direct investment in Myanmar since FY1988-89 is estimated at $72 billion, according to the Myanmar Investment Commission (MIC). Real Estate placed fifth among categories of FDI with $4.3 billion. Oil and gas investment accounted for 30 per cent of total investment with estimated investment of $22.4 billion. Energy investments were 28 per cent, drawing more than $20.5 billion. Manufacturing absorbed 11.6 per cent of total investment, attracting more than $8.3 billion. FDI of $8.2 billion was invested in transport and communication sectors.
Mining, hotel and tourism, livestock and fisheries, agriculture, industrial estate, construction and other services have also attracted foreign investments. Last financial year total FDI in Myanmar was $6.8 billion, exceeding by $800 million of financial
prediction.

 

Ko Htet

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