Foreign investment up US$731 million in August
Published on Sunday, 08 September 2013 17:03
A local Garment Factory in Myanmar (Photo/EMG)
Myanmar received a total of US$731 million in foreign investment from six Asian countries last August, according to the Directorate of Investment and Company Administration.
The total foreign investments in Myanmar have now reached over US$43 billion, up from over US$42 billion last July.
The new investments in August have come from China, Hong Kong, South Korea, Singapore, Malaysia and Japan.
As at August 31, the total investment of China in Myanmar reached US$14.189 billion, that of Hong Kong US$6.446 billion, that of South Korea US$3.037 billion, that of Singapore US$2.436 billion, that of Malaysia US$1.625 billion, and that of Japan US$274 million.
Myanmar government has approved a total of 21 new foreign businesses during August including manufacturing plants, automobile assembly lines and garment factories. Majority of the new investments are manufacturing businesses.
Manufacturing sector has received the lion share of foreign investments since the start of 2013. In the past, the vast majority of foreign investments were poured in the oil and gas and power projects only.
Source: http://www.news.myanmaronlinecentre.com/2013/09/09/foreign-investment-up-us731-million-in-august/
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