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Foreign investment in Myanmar's power sector declines in FY 2016-17

Xinhua, May 3, 2017 Adjust font size:

Foreign direct investment (FDI) in Myanmar's power sector dropped by 14 percent in the last 2016-17 fiscal year, which ended in March, local 7-Day News reported Wednesday.

According to the figures of the Directorate of Investment and Company Administration (DICA), 6.65 billion U.S. dollars' annual foreign investment came in 2016-17, the first re-declination of such investment over the past five years.

Except transport and communications, manufacturing, power, real estate, hotels and tourist and livestock and fisheries, there came no foreign investment in the sectors of agriculture, mining and oil and gas during the fiscal year, according to the DICA.

The transport and communication received investment of 3.08 billion U.S dollars, followed by manufacturing with 1.18 billion dollars, power with 909.883 million dollars, real estate with 747.62 million dollars and hotel and tourist with 403.646 million dollars.

Countrywise speaking, Singapore stood as Myanmar's annual largest foreign investor in 2016-17 with 3.82 billion U.S. dollars, followed by Vietnam with 1.38 billion dollars and China with 482.59 million dollars, Thailand with 423.058 million dollars.

Foreign investment totalled 70.35 billion dollars as of March this year since late 1988. Enditem