Myanmar attracts over 348 million USD in foreign investment in Q1

An aerial view of Yangon city (Photo: EPA)

Hanoi (VNA) - Myanmar attracted investment capital of over 348 million USD from permitted foreign enterprises in the first quarter of the 2020-2021 fiscal year starting October, according to figures of the Directorate of Investment and Company Administration (DICA).

In the reviewed quarter of the current fiscal year, the Myanmar Investment Commission (MIC) gave the go-ahead to 23 foreign investment enterprises.

During the period, the manufacturing sector attracted most investment capital with over 158 million USD, followed by the hotel and tourism sector with more than 81 million USD and the electricity power sector, over 48 million USD, the DICA figures showed.

In the last fiscal year, Myanmar attracted over 5.5 billion USD in investment from 245 permitted foreign enterprises.

Singapore, China and Thailand are top leading investors in the Southeast Asian nation.

Regionally, the Yangon region attracts 60 percent of the investment from both home and abroad, followed by Mandalay region with 30 percent./.

VNA