Singapore has been the top source of foreign direct investments (FDI) into Myanmar since 2012. Things haven’t changed over the first quarter of the current financial year that started on October 1st 2020, according to the data released by the Directorate of Investment and Company Administration (DICA).
With investments in the urban development, real estate, power and manufacturing sectors, Singapore-based firms brought in USD 161 million in the first quarter of this FY. Singapore total FDI in the previous FY amounted to USD 1.85 billion.
The FDI podium for this first quarter is completed by China with an estimated inbound capital of USD 133.53 million, followed by Thailand at USD 24 million.
Ties are deepening also on the trade front. This week, Myantrade announced its intention to open a Myanmar Trade Center in the city-state, under supervision of the Myanmar embassy, to provide support for agricultural exports.