Chinese companies account for a third of the nearly $44 billion of foreign investment Myanmar has approved since 1988, highlighting China’s long history of dominance in its impoverished Southeast Asian neighbor.
The period beginning in 1988 and ending on Sept. 30 of this year saw Chinese companies invest $14.19 billion in Myanmar, accounting for 32 percent of the total $43.74 billion foreign investment the Burmese government approved in the period. China also leads in terms of actual investment with $14.12 billion, or nearly 42 percent of the total $33.67 billion, according to figures Mizzima, a Myanmar newspaper, obtained from the Myanmar Investment Commission (chart below).
The sector in which most investment has been approved is electricity, at more than $19 billion, or nearly 44 percent of the total. The sector received $13.21 billion in actual investment but despite the largesse, Myanmar is still largely disconnected with more than 70 percent of its 60 million citizens in the dark.
Oil and gas tops the list of actual investment by sector with $13.63 billion, or more than 40 percent of the total, while electricity follows and mining occupies a distant third with just $2.31 billion.
Chinese companies account for a third of the nearly $44 billion of foreign investment Myanmar has approved since 1988, highlighting China’s long history of dominance in its impoverished Southeast Asian neighbor.
The period beginning in 1988 and ending on Sept. 30 of this year saw Chinese companies invest $14.19 billion in Myanmar, accounting for 32 percent of the total $43.74 billion foreign investment the Burmese government approved in the period. China also leads in terms of actual investment with $14.12 billion, or nearly 42 percent of the total $33.67 billion, according to figures Mizzima, a Myanmar newspaper, obtained from the Myanmar Investment Commission (chart below).
The sector in which most investment has been approved is electricity, at more than $19 billion, or nearly 44 percent of the total. The sector received $13.21 billion in actual investment but despite the largesse, Myanmar is still largely disconnected with more than 70 percent of its 60 million citizens in the dark.
Oil and gas tops the list of actual investment by sector with $13.63 billion, or more than 40 percent of the total, while electricity follows and mining occupies a distant third with just $2.31 billion.
source: IBT
http://www.ibtimes.com/myanmar-fdi-china-accounts-one-third-foreign-investment-myanmar-14-billion-1446282
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