Myanmar attracts 3.5 billion USD in FDI in 10 months

From October 2018 to July 31 this year, the transport and communication sector attracted the most foreign direct investment (FDI) at more than 1.5 billion USD, followed by the manufacturing sector with some 1.14 USD, China’s Xinhua News Agency reported.

Foreign investment also flowed into the country's agriculture, livestock and fisheries, power, oil and gas, hotel and tourism, real estate, industrial estate and other services sectors.

During the period, Myanmar's mining and construction sector did not see any foreign investment, according to the DICA's figures.

From the 1988-1989 fiscal year to July 31 of the 2018-2019 fiscal year, a total of 1,779 enterprises have been licensed to invest more than 81.2 billion USD in Myanmar.

During the period, the country's oil and gas, power and manufacturing sectors were the top-three sectors with the most foreign investment.

Yangon region attracted 60 percent of investment from both home and abroad, followed by Mandalay with 30 percent.

Myanmar welcomed more than 3.55 million foreign tourists last year with China accounting for the largest number, followed by Thailand. Myanmar authorities are striving to lure more foreign travelers to the country in the coming years, targeting to welcome some 7 million in 2020./.

VNA