Foreign direct investments of more than US$153.239 million have flowed into Myanmar’s manufacturing sector as of February financial year 2024-2025 beginning 1 April, as per the statistics released by the Directorate of Investment and Company Administration (DICA).
The Myanmar Investment Commission (MIC) permitted 46 enterprises to make investments in the manufacturing sector so far this FY. Chinese companies primarily made investments in the manufacturing sector. The manufacturing enterprises that need a large labour force are prioritized to create job opportunities for the locals.
Myanmar Investment Commission gave the green light to 54 foreign projects from 11 countries and regions including China, Chinese Taipei, Hong Kong SAR, India, Indonesia, Singapore, Thailand, the Republic of Marshall Islands, the Russian Federation, Japan, and the UAE) to make investments of over $660.74 million in the past 11 months, including expansions of capital by existing enterprises.
The oil and gas sector saw a capital expansion of $357 million. The manufacturing sector drew $153.239 million, the transport and communications sector attracted $87.7 million and the services sector received over $51 million. The remaining FDI flowed into agriculture, livestock, fisheries and power, respectively.
Singapore is the leading foreign investor in Myanmar with $446 million of FDI in the past 11 months. China stood as the second largest investor this FY with an estimated capital of over $86.78 million made by 31 enterprises and existing ones. Thailand is ranked third in the line-up with more than $46 million from two new businesses and the existing ones.
Myanmar’s manufacturing sector is largely concentrated in garments and textiles produced on a Cut, Make, and Pack basis, contributing to the country’s GDP to a certain extent. — KK