• Burmese
Wednesday, July 16, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
28 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Myanmar Confident About Reaching Investment Target, Despite COVID-19

Nan Lwin by Nan Lwin
June 16, 2020
in Burma
Reading Time: 3 mins read
0 0
A A
International shipping in the Yangon River. / The Irrawaddy

International shipping in the Yangon River. / The Irrawaddy

7.8k
VIEWS
Share on FacebookShare on Twitter

YANGON — Myanmar’s trade minister said he is confident foreign direct investment (FDI) will meet the government target for this fiscal year, despite the COVID-19 pandemic.

During a live address on the economy and recovery plan, the minister for investment and foreign economic relations (MIFER), U Thaung Tun, said Myanmar received US$4.15 billion (5.8 trillion kyats) in FDI during 2018-19. The country approved $4.39 billion (6.1 trillion kyats) in FDI the first eight months of this fiscal year that began in October.

Based on investment data U Thaung Tun said: “I believe that the [FDI] target will be met during this fiscal year.”

RelatedPosts

New Year Honors List: A Who’s Who of Genocide, Sanctions, and Misrule

New Year Honors List: A Who’s Who of Genocide, Sanctions, and Misrule

April 19, 2025
3.7k
Singapore Remains Biggest Foreign Investor in Myanmar

Singapore Remains Biggest Foreign Investor in Myanmar

February 4, 2025
2.6k
MNDAA Tells Troops and Allies to Protect Chinese Assets in Myanmar’s Conflict Areas

MNDAA Tells Troops and Allies to Protect Chinese Assets in Myanmar’s Conflict Areas

July 31, 2024
1.8k

The investment target is $5.8 billion (8 trillion kyats), according to the ministry.

“Given the potential of Myanmar’s investment opportunities, we expect investment will continue to flow in the post-COVID-19 period,” U Thaung Tun said.

The Myanmar Invest Commission (MIC) recently approved industrial projects proposed by investors from Thailand and South Korea to mitigate the impact of COVID-19 and to create jobs for those who have been laid off because of coronavirus, according to MIFER.

MIC said it was reviewing investment proposals from Singapore – which is often used as a conduit for international investment in Myanmar – but the minister did not give the details.

According to the Directorate of Investment and Company Administration (DICA), as of May 31, Singapore was the largest investor, representing nearly 27 percent of total investments. China came second followed by Thailand and Hong Kong.

“It is very important to obtain a heavy flow of investment to revive the economy. We are inviting qualified, responsible investments,” Thaung Tun said.

Myanmar has faced a significant economic slowdown because of COVID-19 since late February. A nationwide survey on the impacts of COVID-19 by the Asia Foundation said nearly two-thirds of businesses in Myanmar expected to face cash flow problems, putting their survival at risk as government emergency loans have reached only a fraction of businesses.

The deputy planning, finance and industry minister, U Set Aung, told people to expect a significant COVID-19 impact on the economy this year. But the COVID-19 Economic Recovery Plan (CERP) had been prepared to ease the impact, he said.

Launched in late April, the CERP focuses on improving the macroeconomic environment through monetary stimulus; easing the impact on the private sector through improvements to investment, trade and banking; assisting laborers, workers and households; promoting innovative products and platforms; strengthening the health care system; and increasing access to COVID-19 response financing, including contingency funds.

State Counselor Daw Aung San Suu Kyi said the government is prepared to face possibly the worst economic conditions this year.

U Thaung Tun suggested Myanmar promotes and upgrades its agricultural sector to boost food exports after COVID-19.

U Zaw Min Win, president of the Union of Myanmar Federation of Chambers of Commerce and Industry, called on the government to provide more loans to businesses and listen to employers when planning the economic recovery.

He called for a joint export promotion team between the government and employers to prioritize investment opportunities and create jobs with frequent negotiations between the government and business to address COVID-19.

You may also like these stories:

Myanmar Extends Bans on Gatherings, Int’l Flights as Imported COVID-19 Cases Rise

Daw Aung San Suu Kyi to Run in Myanmar’s General Election

Myanmar Govt Unveils Four Projects as Part of China’s BRI Scheme

Your Thoughts …
Tags: CERPcoronavirusCOVID-19COVID-19 Economic Recovery PlanDICADirectorate of Investment and Company AdministrationFDIForeign Direct Investmentpresident of the Union of Myanmar Federation of Chambers of Commerce and IndustryState Counselor Daw Aung San Suu KyiU Thaung TunU Zaw Min WinUnion of Myanmar Federation of Chambers of Commerce and Industry
Nan Lwin

Nan Lwin

The Irrawaddy

Similar Picks:

Myanmar Regime Stops Fuel Supplies to Yangon Factories
Business

Myanmar Regime Stops Fuel Supplies to Yangon Factories

by The Irrawaddy
December 5, 2023
9.8k

Industrial zones have been told to secure their own fuel as the junta can no longer afford to subsidize imports.

Read moreDetails
Myanmar Junta’s Yangon Economics Minister was Friends with Assassin Conspirator 
Burma

Myanmar Junta’s Yangon Economics Minister was Friends with Assassin Conspirator 

by The Irrawaddy
September 28, 2022
18.5k

Lieutenant Colonel Myo Myint Aung has been appointed to run Yangon’s economy, despite having a military background.

Read moreDetails
KIA Seizes Three Key Myanmar Junta Outposts
Ethnic Issues

KIA Seizes Three Key Myanmar Junta Outposts

by Hein Htoo Zan
August 8, 2023
5.9k

The Kachin Independence Army said it has overrun two regime strongholds and one held by its Shan Nationalities Army allies.

Read moreDetails
Ex-Spy Chief and Business Cronies Donate to Myanmar Junta Chief’s Buddha Statue
Burma

Ex-Spy Chief and Business Cronies Donate to Myanmar Junta Chief’s Buddha Statue

by The Irrawaddy
July 28, 2023
5.6k

The world’s largest seated Buddha statue is due to be unveiled on Tuesday as cronies gather to shower the project...

Read moreDetails
Myanmar Junta Loses Grip on Bago
Analysis

Myanmar Junta Loses Grip on Bago

by The Irrawaddy
August 28, 2023
4.2k

The Karen National Union and its allies say regime troops are on the retreat in Bago Region, leaving Naypyitaw vulnerable.

Read moreDetails
China Signs Solar Power Deal with Myanmar Junta
Myanmar-China Watch

China Signs Solar Power Deal with Myanmar Junta

by The Irrawaddy
November 10, 2023
3.7k

Chinese ambassador Chen Hai has signed a power-purchase agreement with the regime over three solar projects in Magwe and Mandalay...

Read moreDetails
Load More
Next Post
The Shwe Kokko project in Myawaddy, Karen state. / The Irrawaddy

Myanmar Govt to Probe Contentious Chinese Development on Thai Border

The Norman Monastery in June 2020. / Aung Kyaw Htet / The Irrawaddy

Standing for Nearly 170 Years, This Yangon Monastery Has Been a Key Site for Two Religions in Myanmar 

No Result
View All Result

Recommended

Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

7 days ago
1.3k
What the ‘Snake Charmer’ Analogy Gets Wrong About Myanmar

What the ‘Snake Charmer’ Analogy Gets Wrong About Myanmar

17 hours ago
747

Most Read

  • Myanmar Junta Launches Space Agency With Russian Help

    Myanmar Junta Launches Space Agency With Russian Help

    shares
    Share 0 Tweet 0
  • Indian Army Accused of Deadly Strike on Separatists in Myanmar

    shares
    Share 0 Tweet 0
  • Myanmar Junta Moves into Nawnghkio Outskirts

    shares
    Share 0 Tweet 0
  • What the ‘Snake Charmer’ Analogy Gets Wrong About Myanmar

    shares
    Share 0 Tweet 0
  • Myanmar and Russian Regimes Push Indian Trade Corridor to Bypass Western Sanctions

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.