Myanmar receives US$47 m worth foreign investment in April

A factory running under foreign investment (Photo-Pyae Pyo Aung)

Foreign investors made over US$47 million worth of investments in April and over US$21 worth of foreign investments are in the industrial sector, according to Directorate of Investment and Companies Administration (DICA).

The foreign investment in April last year is over US$650 million and the amount this year is much lower.

Foreign investors made US$21.539 million in industrial sector, US$0.3 million in hotel and tourism sector, US$2.88 million in housing development sector, US$5.33 million in industrial zones construction and US$17.05 million in other service sectors.

The total foreign investment by April 2017 is over US$71 billion, according to the DICA.

China is the biggest investor in Myanmar followed by Singapore. Foreign investment in oil and natural gas sector is the biggest followed by the foreign investment in energy sector.