Singapore leads Myanmar investment in 5 months this FY
September 18, 2024
Singapore was ranked as the biggest investor in Myanmar in the first five months of the current financial year 2024-2025, beginning 1 April, with an estimated capital of US$87.7 billion, including the expansion of capital by existing enterprises, the Directorate of Investment and Company Administration’s statistics showed.
Singapore companies mainly invest in urban development, real estate, power, and manufacturing sectors.
Thailand stood as the second largest investor this FY, with an estimated capital of over $44 million made by one enterprise. China is ranked third in the line-up with more than $35 million from 14 businesses and the existing ones.
Three enterprises from Indonesia, two each from India, Chinese Taipei, the Republic of Korea and Hong Kong SAR invested in Myanmar. The existing enterprises from China, Chinese Taipei, Hong Kong SAR, India, Japan, the Republic of Korea, Singapore, and the UK also increased investments.
Myanmar Investment Commission gave the green light to 26 foreign projects from seven countries (China, Chinese Taipei, Hong Kong SAR, India, Indonesia, Singapore and Thailand) to make investments of $207.6 million in the past five months this FY 2024-2025, including expansions of capital by existing enterprises.
The transport and communications sector found capital expansion to be $82.66 million. The manufacturing sector drew $75.6 million, and the services sector received $44 million. One enterprise put FDI of $3.7 million into the power sector, while one business made investments of less than one million in the agriculture sector, respectively.
Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of $345 million in the 2023-2024 FY, $1.158 billion in the 2022-2023 FY and $297 million in the 2021-2022 mini-budget period (October-March). Additionally, Singapore emerged as the second largest foreign investor in the Thilawa Special Economic Zone after Japan. — KK
