Monday, 28 April 2014

Foreign investment up US$2 bn from January

Foreign direct investment to Myanmar for the 2013-2014 fiscal year, ending March 31, has reached US$ 4.1 billion, with an increase of US$ 1.9 billion in the first three months of 2014.

Most of the investment has gone into transportation and telecommunication industries, according to the Ministry of National Planning and Economic Development.

According to the Directorate of Investment and Companies Administration (DICA) the total amount of foreign investment since Myanmar opened its markets in 1989 has reached US$ 46 billion.

Most foreign investment goes into oil and gas extraction, mining, hotels and tourism, transportation and telecoms, livestock and fisheries, agriculture and construction.

Nearly 50 percent of foreign investment is targeted at Myanmar’s lucrative energy sector. However, in the first three months of 2014, over US$ 1.1 million was invested in transportation and telecoms.
Currently 34 countries are investing in Myanmar, with China ranking first, followed by Thailand.

The Myanmar Investment Commission scrutinises foreign investment with the aim of providing more jobs for citizens. The MIC created 153,456 jobs between 2011 and 2013.

source: Eleven Myanmar
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