Myanmar has adjusted its forecast for foreign direct investment (FDI) to more than 5 billion USD for the fiscal year that began in April thanks to new projects in energy and telecoms.

Earlier, the figure was 4 billion USD.

The revision is based on the rapid growth in the inflow of FDI in the first five months of this fiscal year, worth 3.32 billion USD, up 113 percent over the same period a year prior, said Aung Naing Oo, Secretary of the Myanmar Investment Commission (MIC).

Myanmar attracted 4.11 billion USD in FDI in the last fiscal year, a surge from 1.42 billion USD in the previous year.-VNA