The Myanmar Investment Commission (MIC) has scrutinised foreign investment within the Foreign Investment Law and Citizenship Investment Law, with the primary aim of providing jobs for local citizens.According to the Directorate of Investment and Companies Administration, foreign firms are surging into Myanmar with 707 foreign companies having been allowed to operate in the country.
Foreign countries which have invested in Myanmar include: China, Thailand, Hong Kong, Singapore, United Kingdom, South Korea, Malaysia, Vietnam, France, Japan, India, Netherland, the United States, Indonesia, the Philippines, Australia, Russia, Austria, Panama, the United Arabs Emirates, Canada, Germany, Sweden and Denmark. Although Singapore has operated the most firms, their investment capital is less than China. Of the investors from 36 countries, China ranks first, followed by Thailand.
US$46 billionis the amount of foreign investment during this period, primarilyin sectors such as energy, petroleum and natural gas, commodities production, mineral extraction, hotel and tourism, transportation and telecommunication, housing, livestock and fisheries, agriculture and construction sectors.
In addition, over the first four months of the year more than US$ 1100 million in foreign investment went into the transportation and telecom sectors. The most invested sector is the lucrative energy sector, with about 41 per cent of the overall foreign investment, while construction draws the least investment.