Myanmar economy growth as foreign investment increase

For the first quarter of 2012, an awe-inspiring 270 million U.S. dollars of investment in Myanmar was reached. The participation of eight foreign countries which includes China within this period have mostly made investment in oil and gas depot with an amazing 247 million dollars, and 20 million dollars in mining sector as reported by Weekly Eleven News.

Photo from CFOB

About 100 million US dollars have been contributed by Britain whose investment was all dropped in mining and natural gas. As per verified and confirmed official figures, Myanmar has entered 8.464 billion US dollar in foreign investment in 2011 alone, Xinhua news reported.

A total foreign investment in Myanmar had reached 40.429 billion US dollars covering 458 projects as of January 2012 by the time the country has openly activated this investment in 1988.

Among the many countries and regions who did invest in Myanmar, China has recorded 13.947 billion US dollars equivalent to 34.5%, next is Thailand with 9.568 billion US dollars.

The following lists which gained high records on various areas are 18.873 billion U.S. dollars accounting for 46.6 percent, for oil and gas with 13.815 billion U.S. dollars, mining sector at 2.794 billion U.S. dollars, manufacturing 1.753 billion U.S. dollars, hotels and tourism 1.064 billion U.S. dollars and last but not the least is the sector on real estate with 1.056 billion U.S. dollars, said news report from Xinhua said.

Livestock and fisheries, transport and communications, industrial estate, agriculture, construction and other services have remained. The next important step is to consider the amending of the bill pertaining to foreign investment law to be discussed on July, the next session of the parliament.