Until December this fiscal year, the country’s total foreign direct investment (FDI) from more than 20 countries exceeded US$4.9 billion, according to the Directorate of Investment and Company Administration (DICA).
In the 2014-15 financial year, FDI amounted to more than US$8 billion.
In December, Singapore, which acts as a proxy for several nations including the US, topped the foreign investment list with US$3 billion, followed by China with US$670 million, the Netherlands with US$430.5 million, India US$222.2 million and Japan US$197 million, DICA said.
Aung Naing Oo, secretary of the Myanmar Investment Commission, said: “This financial year FDI is estimated to reach US$6 billion, mainly into manufacturing, telecommunications and the hotels and tourism sectors.”
Between 1988 and 2011, the inflow of foreign investment into the electric power sector accounted for 40 per cent of the total, declining by 6 per cent after 2011.