US$140bn FDI target set for 2030
2016-06-20 15:44:52 / Myanmar PPP
Total foreign direct investment (FDI) is estimated to reach US$140 billion by 2030, according to the 20-year national development plan.
Myanmar has drafted strategies to increase FDI as sanctions are lifted with the average annual rate expected to reach US$6 billion from 2017 to 2020 and US$8 billion from 2021 to 2030.
This year is focused on attracting FDI, developing the export sector and the domestic market, it said. From 2017 to 2020, the strategy is to develop the industrial sector, benefit from membership of the Asean Economic Community and attract FDI. The strategies from 2021 to 2030 include sustainable development, assisting businesses, boosting industries and infrastructural development.
Citizens' socio-economic development would be a priority, it said.
Responsible foreign investors had emerged who could play a crucial role in the country’s reform process, the report said.
Until March 30, Myanmar had granted permits for foreign investments worth US$63.7 billion, while last financial year saw FDI reach US$9.48 billion, according to the Directorate of Investments and Company Administration.
Source: http://www.elevenmyanmar.com/business/us140bn-fdi-target-set-2030
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