Energy

In addition to being crucial to economic activity, Myanmar’s energy and power sector continues to be one of the main drivers of foreign investment as the country looks to develop its national electricity grid. As of October 2019 the value of foreign direct investment approved by the government in the energy sector for that year stood at $43.6bn, representing just over half of total FDI. As demand for electricity continues to rise, the authorities are pursuing new avenues to boost supply. Average household energy consumption is around 435 KWh per month in urban areas, compared to roughly 300 KWh per month in rural areas. Yangon alone accounted for some 42% of electricity consumed in Myanmar in October 2018, down from 50% in 2013. The Ministry of Electricity and Energy announced that 50% of the population was covered by the electricity network in December 2019, up from 43% in 2018. This chapter contains interviews with Ken Tun, CEO, Parami Energy Group of Companies; and Rorce Au-Yeung, Co-CEO, VPower Group.