YANGON (Xinhua): Myanmar's Investment and Foreign Economic Relations Ministry has set a target of US$1.5bil for total foreign investment in the current 2022-2023 fiscal year (FY), Union Minister U Aung Naing Oo said on Thursday (April 21).

Myanmar is planning to attract foreign investment by making priority developments in petrochemical and energy projects, power and construction among others, he told a press conference.

The country is also planning to invite more Chinese investment mainly in power sector as China is one of the major investors to Myanmar.

Myanmar attracted US$647.127mil of foreign investment in the past 6-month interim budget period ended in March, the Directorate Investment and Company Administration's data showed.

The country decided to change its fiscal year from the original October-September to April-March beginning 2022-2023 FY.

 

News Source : The Star