This year has started with a bang for Myanmar as the Foreign Direct investment has come pouring in at a sum of 4 billion dollars in the first half of the year 2017-2018. This is a significant increase by three dollars when compared to the same period of the fiscal year 2016-2017 according to the Official Global New Light of Myanmar.
The traditional of Foreign Direct Investment in Myanmar is through agriculture, livestock and fisheries, manufacturing, power, transport and communication, hotel and tourism and real estate sectors.
The Myanmar Investment Commission has recently approved nine foreign enterprises to carry on Myanmar company formation with a capital of403 million dollars and which will create 3,200 job opportunities in Myanmar.
The Myanmar investment Commission generally permits investment in these ten ultra –important sectors of the Myanmar economy namely the agriculture, livestock production, breeding and production of fishery products, export promotion industries, import substitution industries, power sector, logistics industries, education, health, construction of affordable housing and establishment of industrial estates.
In the financial Year of 2016-2017, Myanmar attracted over 6.8 billion dollars foreign investment with the transport and communication sector topping with 3.08 billion dollars.The Myanmar Government is expecting Foreign Direct Investment of 6 billion dollars for the year 2017-2018 in accordance with the Foreign Direct Investment Promotion Plan(FDIPP). This investment is set with an aim to reduce poverty and raise the economic status of the country.
It is rational to assume that the rising level of FDI’s showing interest in Myanmar company formation will steer Myanmar towards a robust and stable economic development.