Myanmar’s manufacturing sector attracts $75m foreign investment

Myanmar’s manufacturing sector has seen a significant influx of foreign investment, attracting $75 million from 23 foreign enterprises between April and August, Xinhua reported on Tuesday citing the state-run Global New Light of Myanmar.

The report, citing statistics from the Directorate of Investment and Company Administration, highlighted that garment and textile production are the primary focus of the manufacturing sector’s foreign investment.

Overall, the transport and communication sector led in terms of FDI attraction, securing $83 million during the same period. The manufacturing sector followed closely with $75 million, while the services sector received $44 million.

In total, the Myanmar Investment Commission approved 26 foreign projects from seven countries, representing a combined investment value of over $207 million during the April-August period.

Attribution: Xinhua

Subediting: M. S. Salama