Foreign investment in Myanmar hits 15 bln USD

Sunday, July 05, 2009 11:57 PM

YANGON, Jul. 6, 2009 (Xinhua News Agency) -- Foreign investment in Myanmar hit 15. 77 billion U.S. dollars as of May this year since the country was open to foreign investment in 1988, the local Weekly Eleven News reported Monday.

Of the total foreign investment from 31 countries and regions in 424 projects, Thailand is leading with 7.41 billion U.S. dollars, accounting for 46.98 percent, the Union of Myanmar Federation of Chambers of Commerce and Industry was quoted by the report as saying.

The second biggest foreign investor is the United Kingdom with 1.86 billion U.S. dollars or 11.8 percent, while the third is Singapore with 1.55 billion U.S. dollars and the fourth China with 1.33 billion U.S. dollars.

They were followed by Malaysia (660.75 million U.S. dollars), Hong Kong SAR (504.22 million U.S. dollars), France (469 million U. S. dollars), the United States (243,565 million U.S. dollars), Indonesia (241.50 million U.S. dollars) and South Korea (239.32 million U.S. dollars).

Their investments were respectively injected into 12 economic sectors , including electric power, oil and gas (OTCBB:PWOIF) , manufacturing, real estate, hotels and tourism, mining, transport and communications, livestock breeding and fisheries, industry, construction, agriculture and services sector.

(Source: iStockAnalyst )


7/6/2009 2:51:07 AM UK Investement by Derek Tonkin The figures need to be qualified. They only reflect investment approved by the Myanmar Foreign Investment Commission, and not subsequently realised investment which might be only 70% of approvals. The UK figure also includes investment through Overseas Territories like the BVI and Bermuda by Russian, Canadian, Chinese, Hong Kong, Singaporean and Malaysian companies who require an offshore jurisdiction for whatever reason, though no investment is actually channelled through these territories. Most ex-UK investment has since been sold on and has in any case this century been negligible. Reply Rating: (0) (0)
7/19/2009 5:29:40 PM I am glad to know by Ma Ma This is good news for Myanmar national after all that sanction requested by Aung San Su Kyi to gain her power although she knows this business sanction will affect the poorest people of her own. She is a loser now. Myanmar people hate her for persecuting her own people. She chased away every appotunity Myanmar people will get but she got her appotunity whish is chanting by the west. Thats only for her name. Rise up Myanmar without Aung San Su Gyi. Although she kills the future of Myanmar, Myanmar will not die. She is reaping the fruit she planted inside her lake side home. Reply Rating: (1) (0)

The figures need to be qualified. They only reflect investment approved by the Myanmar Foreign Investment Commission, and not subsequently realised investment which might be only 70% of approvals. The UK figure also includes investment through Overseas Territories like the BVI and Bermuda by Russian, Canadian, Chinese, Hong Kong, Singaporean and Malaysian companies who require an offshore jurisdiction for whatever reason, though no investment is actually channelled through these territories. Most ex-UK investment has since been sold on and has in any case this century been negligible.

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7/19/2009 5:29:40 PM

I am glad to know by Ma Ma

This is good news for Myanmar national after all that sanction requested by Aung San Su Kyi to gain her power although she knows this business sanction will affect the poorest people of her own. She is a loser now. Myanmar people hate her for persecuting her own people. She chased away every appotunity Myanmar people will get but she got her appotunity whish is chanting by the west. Thats only for her name.

Rise up Myanmar without Aung San Su Gyi. Although she kills the future of Myanmar, Myanmar will not die. She is reaping the fruit she planted inside her lake side home.

Rating: (1) (0)

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