Myanmar’s energy sector attracts over $26 billion in foreign investment since 1988-89 fiscal year

From the 1988-89 fiscal year to December 2024, Myanmar’s energy sector has attracted more than $26 billion in foreign investment, accounting for 28 percent of the country’s total foreign investment, according to data released by the Department of Investment and Companies Administration (DICA).  

As of December 2024, the oil and gas sector alone has drawn over $23.13 billion, making up 24.67 percent of total foreign investment.  

In the 2022-2023 fiscal year (April to March), Myanmar received $1.16 billion in foreign direct investment (FDI). Key contributors included Singapore, China, Hong Kong, and Thailand. Notable investments included $161.1 million from Taiwan, $169.568 million from Hong Kong, $53.149 million from South Korea, and $98.350 million from Thailand. Other investors included Japan, India, Switzerland, and Vietnam, bringing the total FDI for the fiscal year to $1.64 billion.  

During the first six months of the 2022 fiscal year (Mini Budget), Singapore led with $297.349 million, followed by China with $1.14 billion. Hong Kong invested $109.140 million, while Taiwan and India contributed $8.641 million and $0.550 million, respectively.  

These figures highlight the energy sector’s critical role in attracting foreign capital to Myanmar, underscoring its importance in the nation’s economic development.

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