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Myanmar FDI hits record high of US$9.4b in 2015/16
[YANGON] Foreign direct investment (FDI) in Myanmar during the fiscal year that ended in March totaled US$9.4 billion for 217 projects, official data showed on Monday.
Myanmar saw a record-high inflow in the last fiscal year under the former semi-civilian government, according to data compiled by the Directorate of Investment and Company Administration.
The investment reflects growing, if still cautious, interest in one Asia's last remaining untapped markets and a rush of last-minute approvals before the handover of power to Aung San Suu Kyi's administration.
Myanmar received US$8 billion in FDI in 2014/15, compared with US$4.1 billion in 2013/14.
The oil and gas sector attracted the biggest investment last fiscal year, followed by transport and communication and manufacturing.
Singapore, which put US$4.3 billion into 55 projects, topped the list of foreign investors followed by China, Myanmar's biggest trading partner, which invested US$3.3 billion.