Myanmar’s real estate investment reaches $3.7 bn
MYANMAR’S agriculture sector received tiny inflows of foreign direct investment in the past five years, according to the Myanmar Rice Federation.
Directorate of Investments and Company Administration data showed that FDI to the agricultural sector was only US$7.2 million (Bt251 million) during the 2015-16 fiscal year, when total FDI to the country reached $9.4 billion.
The sector received $138.8 million in 2010-11 and it was nil in the following year.
In 2012-13, FDI to the sector was $9.7 million, rising to $20.3 million in 2013-14, $39.7 million in 2014-15 and $7.2 million in 2015-16.
Since 2010, FDI totalled $215.5 million.
Ye Min Aung, general secretary of the MRF, said agricultural challenges are different from other sectors.
"The tourism and telecoms sectors made significant progress under the last government. Agriculture sees the least investment. Independent scholars are saying the same thing."
Low FDI aside, farmers miss numerous favourable conditions.
"Weak land and banking policies prevent farmers from taking advantage of opportunities," he said.
In the previous fiscal year, domestic investment was $7.9 billion, according to the directorate. Of the total, only $51 million was poured into the agricultural sector.
On the contrary, the real estate sector received $3.7 billion in investment in the previous fiscal year, including FDI of over $3 billion.
Transport, hotels and tourism, construction, energy and mining were the other main recipients of FDI.