Myanmar gets over $4b foreign investment in FY 2013-14

19 April 2014

Xinhua, Yangon :
Myanmar obtained 4.107 billion U.S. dollars foreign investment in the fiscal year 2013-14 which ended in March, up from 1.4 billion dollars in 2012-13, local media quoted the Directorate of Investment and Companies Administration as reporting Friday.
Injected by 34 countries and regions, the foreign investment in 2013-14 covered manufacturing, energy, oil and gas, mining, hotels and tourism, real estate, livestock, fishery and agriculture.
China stood as the largest investor, followed by Thailand and China's Hong Kong Special Administrative Region.
According to the report, the 71 foreign-invested projects in 2013-14 up to December last year has created 50,751 jobs for local people.
Myanmar promulgated a new foreign investment law in November 2012 in a bid to attract foreign investment to the country in line with its reform strategy.
Meanwhile, the Asia Development Bank said recently that Myanmar's economic growth for 2013-14 is estimated at 7.5 percent and the growth is expected to pick up to an annual rate of 7.8 percent for each of the next two fiscal years.

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