Wednesday, 30 April 2014

Foreign investment up by US$ 2 billion in first three months of 2014

Myanmar’s foreign direct investment increases by US$2 billion, of which $300 million goes to commodity production sector, in the first three months of this year.

At the last year’s ending, foreign investment amounted to more than $44 billion. It rose to Bt$46 billion for this year’s first quarters, ending March 31.

Investment funds have been channeled to the energy, oil and gas exploration and production, commodity production, mining, hotel and tourism, transportation and telecommunications, housing, livestock and fishery, agriculture and construction sectors.
From January to March, transportation and telecoms sees $1.1 billion in investment.

Currently 34 countries are investing in Myanmar, with China ranking first and followed by Thailand.

Nearly 42 per cent of foreign investment has been channelled to Myanmar’s lucrative energy sector. In contrast, the construction sector receives the least.

The Myanmar Investment Commission, aiming to create job opportunities for citizens, supervises foreign investment projects mandated by Foreign Investment Law and Citizenship Investment Law.

Foreign investors seem to implement their projects for the commodity production relying on the piecework system. This comprises garments, foodstuff, value-added rubber products, beverage, and agricultural equipments.

source: Eleven Myanmar
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