Three sectors to see large inflows of FDI

· Investments,Economy

The power production sector, oil and gas sector and logistics sector are seem to see large inflow of foreign direct investments in 2019-20 fiscal year according to U Aung Naing Oo, Permanent Secretary of the Ministry of Investment and Foreign Economic Relations.

“In 2019-20 FY, the first promising sector is electricity production and power plants. The second is oil and gas sector. The third is logistics sector. It is linked to the jetty projects. This year, the Customs Department may issue the notification on bonded warehouse. Thanks to the issuance of such notification, the logistics industry has a better prospect,” said U Aung Naing Oo.

From 1988 till November, 2019, 50 countries invested around $83 billion in 1,876 businesses in 12 economic sectors, according to the Directorate of Investment and Company Administration.

The FDI in the electricity and energy sector by 23 foreign businesses with an investment of over $21 billion accounts for over 26 per cent of the total FDI. A total of154 foreign business invested in the oil and gas sector for over $22 billion, accounts for over 27 per cent and 61 businesses invested around $11 billion which is 13 per cent of the total FDI in the transport and communication sector.

sources: eleven myanmar