Foreign Investment in Myanmar hits US$ 42.95-B
Contracted foreign investment in Myanmar from 32 countries and regions hit US$42.95-B as of the end of July 2013 since Y 1988, according to the latest official figures.
Country-wise speaking, China led with US$ 14.188-B, accounting for 33.04% of the total.
China was followed by Thailand at US$ 9.979-B, China’ s Hong Kong Special Administrative Region at US$ 6.404-B, the United Kingdom at US$ 3.045-B, South Korea US$ 3.018-B, Singapore US$ 2.358-B and Malaysia US$ 1.034-B.
Sector-wise, powerr sector led all sectors, with US$ 19.237-B, accounting for 44.79% of the total.
It was followed by Oil and Gas at US$ 14.372-B, mining at US$ 2.829-B, manufacturing at US$ 2.749-B, hotels and tourist at US$ 1.585-B, and real estate US$ 1.056-B.
Other sectors included livestock and fisheries, transport and communications, industrial estate, agriculture and construction.
Meanwhile, passed by the parliament, Myanmar promulgated a new foreign investment law in November 2012, replacing the over 2 decade-long Y 1988 similar law, in a bid to further attract foreign investment to the country in line with its reform strategy.
The new law allows foreigners to make full investment, joint venture operation between foreigner and local citizen or related government department or organization on mutually-agreed ratio of investment.
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