Ministry of Investment and Foreign Economic Relations to target Asian FDIs in 2019-20 FY

MIFER’s Permanent Secretary, U Aung Naing Oo, said that his ministry will not expect significant investments from US and EU for the ongoing FY, due to the geopolitical challenges. Instead, the ministry expects FDIs originating from fellow ASEAN countries as well as Japan, China and South Korea to pick up.

From 1988 to November 2019, the 9 ASEAN countries totaled investments of over USD 38 billion in Myanmar, representing 46% of the total foreign investment (USD 83 billion).

The majority of ASEAN’s FDIs came from Singapore (USD 22 billion), followed by Thailand (USD 11 billion), and Vietnam (over USD 2 billion).

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