Myanmar’s power sector attracts above US$820 mln in FY 2022-2023

 

April 26

 

MYANMAR’S power sector drew foreign direct investments of over US$820 million in the 2022-2023 financial year, according to the Directorate of Investment and Company Administration (DICA).

 

The power sector topped the FDI line-ups in the financial year 2021-2022. Meanwhile, $504.123 million was pumped into the service sector, while the manufacturing sector was ranked third with $271.806 million including the capital expansion by the existing enterprises.

 

Singapore was the top source of FDI with $1.158 billion, as per the statistics released by the DICA.

 

Myanmar’s power sector attracted $1.026 billion in the 2019-2020 FY, $3.121 billion in the 2020-2021 FY, $20.584 million in the sixmonth mini-budget period and $820.27 million in the 2022-2023 FY respectively.

 

The DICA has planned to call for bids for foreign investment in the power sector. — TWA/EM