FDI tripples to $4.1 bn
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Economic reforms helped triple foreign-direct investment (FDI) into Myanmar to more than $4.1 billion (Bt133 billion)in the fiscal year that ended on March 31, said a senior investment commission official, who forecast an increase this year.
Myanmar’s quasi-civilian government has pushed through a series of political and economic reforms since the end of military rule in 2011 and foreign interest has jumped as Western countries have lifted or suspended sanctions.
“The total inflow of FDI in the last fiscal year amounted to $4.107 billion, compared with $1.419 billion a year before and $91.17 million 10 years ago in fiscal 2003/04,” said Aung Naing Oo, secretary of the Myanmar Investment Commission.
“As you know, we have opened up a number of sectors to foreign investors, relaxed various restrictions, set up special economic zones and removed unnecessary paperwork and red tape since April 2012,” he said.
