Foreign direct investment (FDI) in Burma during the fiscal year that ended in March totaled $9.4 billion for 217 projects, official data showed on Monday.
Burma 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.
Burma received $8 billion in FDI in 2014/15, compared with $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 $4.3 billion into 55 projects, topped the list of foreign investors followed by China, Burma ‘s biggest trading partner, which invested $3.3 billion.