SURVEY IMPROVES DICA’S FOREIGN DIRECT INVESTMENT DATA COLLECTION

A survey of 14 major companies operating in Myanmar has helped the Directorate of Investment and Company Administration (DICA) improve the collection of statistics.

DICA is currently upgrading its Foreign Direct Investment (FDI) statistics in order to conform to international standards, especially ASEAN standards.

Good quality statistics are essential to guide Myanmar’s development but, at present, Myanmar FDI statistics cover only the investment permitted by the Myanmar Investment Commission (MIC).

This means that data relating to some economic sectors and geographical areas (like Special Economic Zones) are not included in the FDI statistics. Also, some components of FDI, such as loans by foreign parent companies, are not covered. Furthermore, the MIC permits only cover ‘plans’ for investment rather than ‘actual’ investment.

In order to reach the international standard for FDI statistics, DICA will conduct yearly surveys of Myanmar companies that have foreign direct investors.

As part of the preparation for this survey, DICA interviewed, between 20-24 March 2017, 14 randomly chosen Myanmar companies in Yangon which have foreign direct investors.

The interview team comprised officials from DICA and an FDI statistics expert from the EU. The team gathered opinions on the draft questionnaire from the participants in order to improve the survey before its full dissemination.

The data collected from the 14 companies will also be used to test the computerized database which has been prepared for data treatment and the production of aggregated statistics.

The survey and interviews were supported by the EU-ASEAN Capacity Building Project for Monitoring Integration Progress and Statistics (EU-ASEAN COMPASS).

The companies that participated in the survey were:

1. Myanma Shipyards-Dong a Joint Venture Company Limited

2. Tan Chong Motor (Myanmar) Co Ltd.

3. Sumitomo Mitsui Banking Corporation (Representative Office)

4. Asia Myanmar Shining Star Company Limited

5. Yoma Siloam Hospital Pun Hlaing Co Ltd.

6. Schlumberger logelco Inc. (Yangon Branch)

7. Myanmar Ganad Advertising Co Ltd.

8. Savoy Hotel Co Ltd. (Savoy Hotel)

9. Telenor Myanmar Limited

10. Colgate-Palmolive (Myanmar) Ltd.

11. Myanmar Brewery Ltd.