A Significant Increase of Foreign Investment in Residential Builidng Sector
In the last 2017-2018 fiscal year, the access of foreign investment to Myanmar has reached USD 6.1 billion and the residential building sector has been significantly improved.
In 2017-2018 fiscal year, it was earmarked to access USD 6 billion to the housing sector but the actual target has exceeded more than the earmarked target by 1 billion.
The main investment sectors are housing and construction sector, industrial sector and other services sectors. The less investment sectors are transport and communication sectors, said the Director of the Department of Investment and Company Administration.
The maximum investment access is from Singapore and the second and third maximum investment accesses are from China and Netherlands. As a result, there are many opportunities to get access of investment in industrial sector, housing and construction sector as well as technology sector.
During 2017-2018 fiscal year, there are 119 investment processes and the investment amount is MMK 3928.1 billion. Therefore, it has increased more than half compared with the amount of previous fiscal year. The other domestic sectors have been increased in the investment amount except the agricultural sector.
It is very important to improve the access of foreign investment every year and it is earmarked to get USD 6 billion each year up to 2020.
Credit: Myanmar Alinn
Translated by: iMyanmarHouse.com
