{"id":9610,"date":"2020-10-14T12:00:55","date_gmt":"2020-10-14T05:00:55","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9610"},"modified":"2021-06-04T15:43:55","modified_gmt":"2021-06-04T08:43:55","slug":"foreign-investors-undaunted-by-rising-covid-19-cases-in-myanmar","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/foreign-investors-undaunted-by-rising-covid-19-cases-in-myanmar\/","title":{"rendered":"Foreign investors undaunted by rising COVID-19 cases in Myanmar"},"content":{"rendered":"

The manufacturing and real estate sectors both amassed billions worth of investments\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
Aerial cityscape panorama view of building construction near the harbor in Yangon, Myanmar during sunrise. PerfectLazybones\/Shutterstock<\/figcaption><\/figure>\n

Despite the growing number of COVID-19 cases across Myanmar,\u00a0<\/span>The Star<\/span><\/a> reported that the country has gained foreign investments worth more than USD5.52 billion during the previous fiscal year (FY) 2019 to <\/span>2020 until t<\/span>he<\/span>\u00a0end of 30 September<\/span>, citing figures published by the\u00a0Directorate of Investment and Company Administration (DICA).<\/span>\u00a0<\/span><\/p>\n

Since 1 October 2019 to 30 September 2020, the Myanmar Investment Commission (MIC) revealed that <\/span>they have authorised 245 foreign investment enterprises.<\/span>\u00a0<\/span><\/p>\n

In this period, the power sector gained the most, accumul<\/span>ating\u00a0<\/span>more than USD1.67 billion foreign investment capital.\u00a0<\/span>The manufacturing with USD1.12 billion and real estate sector with USD1.11 billion followed suit.<\/span>\u00a0<\/span><\/p>\n

The total amount of foreign investment capital, however, did not reach the original target of USD5.8 billion.\u00a0<\/span>In comparison,\u00a0<\/span>FY<\/span>\u00a02018 to 2019 brought\u00a0<\/span>a capital of over USD4.15 billion yet it only<\/span>\u00a0grew by more than USD1.36 billion<\/span>\u00a0this year<\/span>.<\/span>\u00a0<\/span><\/p>\n

More: Myanmar\u2019s potential as a hub for industry supplies a glimmer of hope for real estate<\/strong><\/a><\/p>\n

“Currently, we still set the target of USD5.8 billion foreign investment capital for present FY 2020 to 2021 as we guess that we can reach the target this fiscal year,” <\/span>said\u00a0<\/span>a DICA<\/span>\u00a0official.<\/span>\u00a0<\/span><\/p>\n

Among the largest investors in Myanmar are from China, Singapore and Thailand.<\/span>\u00a0<\/span><\/p>\n

Across the entire region, Yangon attracted 60 percent of foreign and local investments, followed by Mandalay with 30 percent and the remaining 10 percent went into other regions and states.\u00a0<\/span>\u00a0<\/span><\/p>\n

As of 13 October, the country reported\u00a0<\/span>1,123\u00a0<\/span>new cases, bringing the total number of infections to\u00a0<\/span>surpass the 30,000 mark<\/span><\/a>\u00a0<\/span>and the death toll to\u00a0<\/span>693, with 29 newly reported on the same day<\/span>.\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The manufacturing and real estate sectors both amassed billions worth of investments <\/p>\n","protected":false},"author":9,"featured_media":20769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[112,552,193],"class_list":["post-9610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-foreign-investment","tag-foreign-investors","tag-myanmar","news_country-myanmar","news_author-property-report"],"acf":[],"yoast_head":"\nForeign investors undaunted by rising COVID-19 cases in Myanmar | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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