The Myanmar Investment Commission (MIC) approved just $4.6m in foreign investment proposals in February, all in the manufacturing sector, according to DICA data.
As of 11M FY2024/25 (April to February), the MIC had approved $661m in foreign investment proposals across the following sectors:
- Oil and gas - $357m (investment extension only)
- Manufacturing - $153m (46 new projects plus investment expansion)
- Transport and communication sector - $87.7m (1 new project plus investment expansion)
- Services - $51m (4 new projects)
- Power - $8.5m (2 new projects plus investment expansion)
- Livestock & fisheries - $2.7m (investment expansion only)
- Agriculture - $525,000 (one new project, plus investment expansion)
Approved investment by country for the period was as follows:
|
Country |
Amount ($m) |
Details |
Share (%) |
|
Singapore |
446.7 |
Three new projects plus investment expansion |
67.6% |
|
China |
86.8 |
31 new projects plus investment expansion |
13.1% |
|
Thailand |
46.2 |
Two new projects |
7.0% |
|
Hong Kong |
22.7 |
Six new projects plus investment expansion |
3.4% |
|
Indonesia |
20.9 |
Three new projects plus investment expansion |
3.2% |
|
South Korea |
10.6 |
Investment expansion |
1.6% |
|
Taiwan |
8.1 |
Three new projects plus investment expansion |
1.2% |
|
India |
7.1 |
Two new projects plus investment expansion |
1.1% |
|
Russia |
3.4 |
One new project |
0.5% |
|
Marshall Islands |
2.7 |
One new project plus investment extension |
0.4% |
|
UK |
2.5 |
Investment expansion only |
0.4% |
|
Japan |
1.7 |
One new project plus investment expansion |
0.3% |
|
UAE |
1 |
One new project |
0.2% |
|
Seychelles |
0.6 |
Investment expansion |
0.1% |
The MIC approved $661.62m in foreign investment proposals in FY2023/24 (April-March), down 60% from $1.64bn in the previous financial year. Approvals last financial year were led by power ($375m) and manufacturing ($151m)
