Thursday, 22 May 2014

Myanmar Gets US$2 Billion In Foreign Investment In First Four Months

YANGON, May 15 (Bernama) -- Myanmar received US$2.21 billion in foreign investment in the first four months led by the transport and communication sector, Xinhua news agency reported citing local media.

The transport and communication sector attracted US$1.34 billion in investment followed by manufacturing sector at US$426.8 million, real estate at US$267.8 million, hotel and tourism at US$56.9 million and mining US$28.69 million.

Myanmar's largest investors during the period were China with over US$14 billion, Thailand (more than US$10 billion) and China's Hong Kong Special Administrative Region (over US$6 billion).

A total of 71 foreign-invested projects in 2013-2014 fiscal year up to December have led to the creation of 50,751 jobs for locals.

The Asian Development Bank said Myanmar's economic growth for 2013-2014 is estimated at 7.5 per cent.

source: Bernama
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