Singapore tops foreign investors in Myanmar
Singaporean has emerged as the largest foreign investor in Myanmar as companies from the city state have been expanding their investments in sectors such as energy, construction, hotels and tourism, agriculture and industry, according to the Directorate of Investment and Company Administration (DICA).
DICA’s statistics for January 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. Of those, three companies are from Singapore and Hong Kong, two from South Korea and Japan and the rest from China, Thailand and the United Kingdom.
As of December last year, the total amount of foreign investment was $44.2 billion. 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 per cent of all foreign investment.
Meanwhile, in the hotel and tourism industries of Myanmar, 14 Singaporean hotel companies have invested $880.4 million, followed by 10 Thai companies at $235.7 million, six Japanese companies at $183 million, and four Hong Kong companies at $ 50 million. As well, two Malaysian companies invested $20 million and one Vietnamese company $440 million, one British company $3.4 million, and one United Arab Emirates company $4 million, according to the Ministry of Hotel and Tourism.
“The ministry gave the green light to 39 foreign investors to work in Myanmar’s hotel and tourism sector last year. Those companies invested $1.9 billion in 2013,” said a ministry official.
Singaporean has emerged as the largest foreign investor in Myanmar as companies from the city state have been expanding their investments in sectors such as energy, construction, hotels and tourism, agriculture and industry, according to the Directorate of Investment and Company Administration (DICA). DICA’s statistics for January 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....
Singaporean has emerged as the largest foreign investor in Myanmar as companies from the city state have been expanding their investments in sectors such as energy, construction, hotels and tourism, agriculture and industry, according to the Directorate of Investment and Company Administration (DICA).
DICA’s statistics for January 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. Of those, three companies are from Singapore and Hong Kong, two from South Korea and Japan and the rest from China, Thailand and the United Kingdom.
As of December last year, the total amount of foreign investment was $44.2 billion. 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 per cent of all foreign investment.
Meanwhile, in the hotel and tourism industries of Myanmar, 14 Singaporean hotel companies have invested $880.4 million, followed by 10 Thai companies at $235.7 million, six Japanese companies at $183 million, and four Hong Kong companies at $ 50 million. As well, two Malaysian companies invested $20 million and one Vietnamese company $440 million, one British company $3.4 million, and one United Arab Emirates company $4 million, according to the Ministry of Hotel and Tourism.
“The ministry gave the green light to 39 foreign investors to work in Myanmar’s hotel and tourism sector last year. Those companies invested $1.9 billion in 2013,” said a ministry official.
