CNI News

28 Dec 2022

With 26 out of 58 FDI projects in Myanmar in 2022, China invested in the largest number of the projects in the country, according to statistics released by the Directorate of Investment and Company Administration of Myanmar.

However, China's investment this year amounted to US$ 94 million while Singapore, which implemented only 14 projects in Myanmar, invested more than US$ one billion in total.

Compared with previous years, FDI in Myanmar dropped and Myanmar's FDI is unlikely to increase in the coming year as the global economy is predicted to fall in 2023, an economist who requested anonymity told the CNI.

 The office of the Directorate of Foreign Investment and Company Administration.

He said, "In the past, there were US dollar billions and billions of FDI every year. It can be said that Myanmar's FDI dropped significantly. Not all investment projects were not new. There were some projects that increased their investment capitals. Myanmar may not be the only country that suffered a decrease in FDI as it is predicted that the global economy will fall and FDI will drop in 2023. With political instabilities, the situation in Myanmar is likely to get worse."

Before the political changes in the 2019-2020 fiscal year, Myanmar secured FDI worth US$ 4.88 billion.

Myanmar received 26 projects from China, 14 projects from Singapore, 12 projects from Hongkong, two projects from South Korea and one each from China(Taipei), Japan and the UK, according to the directorate.

A garment factory.

In the past, companies with 1 percent of foreign investment were considered as foreign companies but now those with 35 percent of foreign investment are deemed as local companies.

Moreover, restrictions on imports of raw material and profit remittance have been eased.

Myanmar will be able to restore its foreign investment potential when political stability has been maintained, according to economists and businessmen.