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Myanmar to meet foreign investment target in FY 2016-17

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Staff 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
As of late December, the total foreign direct investment to the country reached $3.46 billion, down by over $1 billion as compared with the same period of the last fiscal year.

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.