foreign investment in myanmar 2020

02 Jared.indd 28 3/8/12 1:15:23 PM Foreign Investment in Myanmar 29 Figure 2 Actual Foreign Direct Investment by Year 976.00 1100.0 878.80 1000.0 756.00 900.0 Actual Investment Inflows 714.90 683.60 The Changing Sectoral Structure of Investment Behind the aggregated ebb and ﬂow of investment are important changes in their sectoral distribution. This will form the centrepiece of Australia's transition to an economic partnership with Myanmar. 10/1988) or the Foreign Investment Law (the Pyidaungsu Hluttaw Law No. Already, approved FDI into Myanmar in the first three months of fiscal year 2019-20 is double what it was in the same period in the previous fiscal year, the commission said. However, the amount represents an increase of more than $1 billion compared to the same period last year, according to the Ministry of Investment and Foreign Economic Relations (MIFER). Cash-based economy Myanmar’s economy is still substantially cash-based, with less than 20% of the population having … October 30, 2020 by Thiha YANGON—Even as Myanmar struggles to get COVID-19 under control, State Counselor Daw Aung San Suu Kyi announced that the country secured 98 percent of its foreign investment target for this year, adding that the result can be considered a success given the economic disruptions caused by the pandemic. YANGON, Jan 18 (Xinhua): Myanmar attracted investment capital of over US$ 348 million from permitted foreign enterprises in first quarter of the present fiscal year (FY) 2020 … It found that 81 percent of the firms were affected negatively by COVID-19 in May and 79 percent in July. Thus, the official economic indicators dated 30 September 2019 show that foreign investments in the sectors … Singapore was the largest single foreign investor in the 2019-2020 fiscal year, Myanmar’s official figures show, but when mainland China and Hong … I just want our people to understand,” Daw Aung San Suu Kyi said. Recently, the Myanmar government revealed that it has been drawing up a medium- to long-term economic recovery and reform program that aims to maintain economic reforms introduced by the NLD. YANGON—In an effort to counteract the significant decline in foreign direct investment (FDI) over the last two fiscal years, the government’s Myanmar Investment Commission (MIC) has launched a major investment promotion plan which aims to attract more than $200 billion through responsible and quality business over the next 20 years. “Most of the neighboring countries have faced worse situations. YANGON—Even as Myanmar struggles to get COVID-19 under control, State Counselor Daw Aung San Suu Kyi announced that the country secured 98 percent of its foreign investment target for this year, adding that the result can be considered a success given the economic disruptions caused by the pandemic. This allows foreign firms to fully own and operate institutions that offer either the curriculum prescribed by the Ministry of Education (MoE) or an international syllabus. Any permit for investment granted by the Commission subject to the Union of Myanmar Foreign Investment Law (The State Law and Order Restoration Council Law No. “Even if we could not fulfill the overall target, achieving 98 per cent is a considerable success amid the crisis,” Daw Aung San Suu Kyi said. However, in recent years, other countries have stepped up their level of investment in the country. ... 2020. News Release | 3 April 2019 YANGON, MYANMAR (3 April 2019) — Myanmar’s economic growth is expected to pick up in 2019 and 2020, thanks to higher foreign direct investment (FDI) and positive responses to the government’s economic and policy reforms, according to a new report by the Asian Development Bank (ADB). It translates into an average of $500 million per month in FDI during FY2019-20, despite the coronavirus epidemic, which first hit the country in March. In a televised speech on Monday, the State Counselor assured Myanmar citizens that although the country is facing a severe challenge due to the coronavirus outbreak, her government is trying its best. The fiscal year will end on September 30. Myanmar will exceed its foreign direct investment target (FDI) of US$5.8 billion in fiscal 2019-20. said U Thant Sin Lwin, Director General of Directorate of Investment and Company Administration. Myanmar foreign direct investment for 2019 was $2.29B, a 77.54% increase from 2018. Myanmar foreign direct investment for 2018 was $1.29B, a 67.74% decline from 2017. The ADB also projected that Myanmar’s growth would bounce back to 6 percent in 2021, while projecting Thailand at 3.5 percent, Cambodia at 5.9 percent, Indonesia at 5.3 percent and Laos at 4.5 percent. 2020/October Foreign Direct Investment By Sector: 281.09 KB INVESTMENT by American companies in Myanmar could be double in three years thanks to the government’s efforts to boost bilateral economic ties, said Aung Naing Oo, director general at the Directorate of Investment and Company Administration and secretary of Myanmar Investment … I don’t mean any disrespect to other countries. MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more. As at September 7, FDI was more than US$ 5.3 billion. We do not encourage viewing this site in this width. Myanmar attracted foreign direct investment of more than US$672.59 million between 1 October and 31 January in the 2020-2021 budget year, including an expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, according to the Directorate of Investment and Company Administration (DICA). E.g. Myanmar is abundant in natural resources such as oil and gas, various minerals, precious stones and gems, timber, forest, products, rice and fisheries. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';fnames[3]='ADDRESS';ftypes[3]='address';fnames[4]='PHONE';ftypes[4]='phone';fnames[5]='BIRTHDAY';ftypes[5]='birthday';}(jQuery));var $mcj = jQuery.noConflict(true); Copyright © 2021 — Consult-Myanmar Co Ltd, Myanmar Co Reg No: 100066009, • All rights reserved. If all the current investments in the pipe are approved, Myanmar could record a maximum of US$1.3 billion in further FDI for fiscal 2019-20, which will take it past its US$5.8 billion target for the year. Both, local and foreign businessmen say that the downturn had been driven by uncertainty over who will be the next government as much as it was over election-related disruptions. It received nearly $5.7 billion—around $110 million short of its target.