Singaporean companies have been expanding their investments in Myanmar sectors such as energy, construction, hotels and tourism, agriculture, and the industrial sector, making it the largest foreign investor in the country, according to the Directorate of Investment and Company Administration (DICA). DICA’s statisti
Singaporean companies have been expanding their investments in Myanmar sectors such as energy, construction, hotels and tourism, agriculture, and the industrial sector, making it the largest foreign investor in the country, according to the Directorate of Investment and Company Administration (DICA).
DICA's statistics show that overall foreign investment reached more than $1 billion with Singapore as the top investor, followed by Hong Kong, South Korea, and Japan. Those countries invested most in the garment, manufacturing and beverage distribution sectors, as well as communication.
The Myanmar Investment Commission allowed a total of 13 foreign investments last month. 3 companies are from Singapore and Hong Kong, 2 from South Korea and Japan and the rest from China, Thailand, and the UK.
Foreign investors are putting their money in energy, oil and natural gas, manufacturing and industrial, mining, hotel and tourism, real estate, transportation, communications, agriculture, and construction. Most foreign investment is in the energy sector, which accounts for 42.5% of all foreign investment.
Meanwhile, in the hotel and tourism industries of Myanmar, 14 Singaporean hotel companies have invested $ 880 million, followed by 10 Thai companies at $ 235 million, 6 Japanese companies at $ 183 million, and 4 Hong Kong companies at $ 150 million. 2 Malaysian companies invested $ 20 million and 1 Vietnamese company $ 440 million, 1 British company $ 3.4 million, and 1 UAE company $ 4 million.