That's according to U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA).

The 2018-19 FDI forecasts were made after excluding investments from the West.

Government officials have suggested that Myanmar is not expecting huge volumes of FDI as a result of the humanitarian crisis in Rakhine.

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) will continue their efforts to attract more FDI into Myanmar and aims to raise interest in the states and regions beyond Yangon, which has so far received the majority of FDI channeled into the country.

Investments from 28 countries were approved in the 2017-18 financial year, with China, the Netherlands, Japan, South Korea, the UK, and the US among the top investors. 

Around a third of the investments were channeled into the industrial sector, while real estate and construction absorbed around 22 per cent of the funds.

Colliers says that projects concerning the improvement of existing infrastructure developments should be prioritized in order to alleviate congestion.

Colliers suggests that:

• As the city still suffers from poor water distribution, inadequate road conditions, and power shortages, there should be initiatives to improve such issues in order to draw FDI in the long term.
• Enhancing the quality of the basic structures and necessities will boost a higher return on investment within the city as Yangon alone draws in more than half of the total FDI for the country.
• The escalated standards of amenities within the city will, in turn, promote higher quality for various forms of businesses and developments.

Source: Colliers International Myanmar, Myanmar Times

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