50 Percent of Foreign Investment Has Accessed To Industry And Real Estate Sector
During 2017-2018 fiscal years, the 50% of the foreign investments have accessed to the industry sector and real estate sector, according to the Department of Investment and Company Administration.
At present, the foreign investment has reached more than US$ 5 billion including over US$ 2.7 billion in the industry and real estate sectors, according to the report from the Department of Investment and Company Administration.
“The industry sector is used to obtain more foreign investment amount than any other businesses. But, the investment amount has accessed more in the real estate sector due to the affordable housing projects and the housings projects in Bago Region implementing by the Government,” said a senior official of the department.
The most foreign investment amount accessed in the petroleum and natural gas industry under the former government but there is no investment in the petroleum and natural gas industry at all under the new government because the Ministry of Electricity and Energy have not allocated new processes to be invested.
It is estimated to obtain more than US$ 6 billion of foreign investment in this fiscal year. According to the statistics from April to February, the foreign investment has reached nearly US$ 5 billion. As a result, the investment amount can exceed than this year’s target amount, according to the statistics of the Department of the Directorate of Investment and Company Administration.
“In the real estate sector, the affordable housings projects are being implemented by the foreign investment. But, the current market situation is stable because the respective law has not yet released by the government. If the foreign investment accesses more in the real estate sector, the fairly priced housing projects with good facilities will be available more,” said U Myint Thaung, real estate agent.
Credit: The Voice
Translated by: iMyanmarHouse.com
