CNI News
10 December 2024
Foreign investment in Myanmar has fallen by more than half in the 2024-2025 fiscal year, according to the Directorate of Investment and Company Administration (DICA).
Foreign investment of 587.24 million dollars entered Myanmar until November of the 2023-2024 fiscal year, but just 235.7 million dollars in the 2024-2025 budget year.
The reason why the foreign investment had fallen like that was because many border trade posts had been closed and the trading by sea only is used for import and export, U Aung Pyae Sone, an economic analyst, told CNI News.
While seeing the office of the Directorate of Investment and Company Administration
"Foreign investments enter depending on regions. And when we trade, there are foreign investments and logistics industries along the trade route. When the logistics industry going through border trade almost has stopped, foreign investments usually decline. Moreover, in the import and export sector, as we depend on trading by sea only, there are difficulties because we can't carry out as quickly as the border trade. So, foreign investments have declined." he said.
The investments of China and Singapore, the most in Myanmar were over 553 million dollars last year but this year just about 140 million dollars.
Foreign investments that entered special economic zones during the first eight months of this year were just over 36 million dollars and only three foreign investments entered, according to the DICA.
While seeing somewhere in the city center of Yangon
However, foreign investments have increased in the garment industry, electric car and fuel oil sectors, said U Aung Pyae Sone.
“Foreign investment has increased in the garment industry. New factories have arisen as well. And some CMP industries are looking up. Some companies relating to electric cars have been allowed to invest a lot by the Myanmar Investment Commission. Next, some foreign investments have been allowed to invest in fuel oil import." he said.
Sr-Gen Min Aung Hlaing, chairman of the SAC, has told businessmen about the lack of foreign investments and urged them to invest in the agricultural and livestock industries.
