Singapore is likely to remain the top source of foreign direct investments (FDI) into Myanmar in the current financial year 2019-2020, according to the data released by the Directorate of Investment and Company Administration (DICA) and reported by the Global New Light.

18 Singapore-listed enterprises brought in USD 1.6 billion invested in urban development, real estate, power and manufacturing sectors within the past ten months (October-July). Hong Kong companies stood as the second-largest investors with an estimated capital of USD 1.37 billion from 46 enterprises. The podium is completed by Japan with companies investing USD 710 million.

Myanmar attracted foreign direct investment of more than USD 5 billion between 1 October 2019 and July-end 2020. The country is expected to reach its objective of attracting USD 5.8 billion in the current financial year despite the COVID-19 pandemic.