Myanmar to meet foreign investment target in FY 2016-17Staff Writer | January 27, 2017
The Myanmar Investment Commission (MIC) has approved $5.78 billion of foreign direct investment in the 2016-2017 fiscal year, which could meet the target of $6 billion.
Economy in Asia $5.78 billion of foreign direct investment
U Aung Naing Oo, secretary of MIC and Director General of Directorate of Investment and Company Administration (DICA), attributed the situation to the wait-and-see attitude on new laws and regulations by foreign investors.
The total foreign investment as of March, the end of this fiscal year, is expected to reach $7 billion, said U Aung Naing Oo. ■