Myanmar aims to attract $140bn in inward FDI by 2030 as part of its national economic development plan. The strategy is based on the expectation that the US restores its generalised system of preferences (GSP) to Myanmar this year. The GSP is a trade preference programme designed to help less developed countries expand their economies.

Between 1988 and the end of the 2015-16 fiscal year, Myanmar granted $63.7bn-worth of foreign investment permits. The government now hopes to attract $6bn of FDI per year until 2020, with an increase to $8bn per year from 2021. FDI flows hit a record peak in Myanmar in 2015-16 at $9.48bn, demonstrating increasing investor interest following the country’s first free election in 25 years which saw the National League for Democracy win a landslide parliamentary majority.

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The GSP should be reinstated this year, officials say, following US review of Myanmar’s labour and copyright laws. However, many are concerned that the US election will cause delays.