Publication Date : 13-09-2013
Total foreign investment in Myanmar hit US$43 billion in August, according to the Myanmar Investment Commission (MIC).
Over 600 foreign businesses invested a total of $43.68 billion in 12 sectors as of August 31, MIC reported.
"Myanmar has foreign investments from 32 countries in four major sectors: energy, oil and gas, mining, and manufacturing," said an official from MIC.
China is the biggest investor in Myanmar, followed by Thailand, Hong Kong, South Korea, Britain, Singapore, Malaysia, France, Vietnam, and India.
Thailand is the largest importer from Myanmar. As much as 41 per cent of Myanmar's total exports went to Thailand last year, while 15 per cent went to India, 14 per cent to China, seven per cent to Japan, four per cent to South Korea, two per cent to Malaysia, and one per cent each to Singapore and Bangladesh, respectively.
Myanmar imported mainly from China, as usual, in 2012. A total of 37 per cent of Myanmar's imports came from China, while 20 per cent came from Thailand, 9 per cent each came from Singapore and South Korea, 8 per cent from Japan, four per cent from Malaysia, 3 per cent each from India and Germany, 1 per cent from Vietnam, and 5 per cent from other countries.
The International Monetary Fund expects the GDP (gross domestic product) of Myanmar to increase to 5.5 per cent in 2013 and 6.2 per cent in 2014. The consumer price inflation is also forecast to increase to 7.3 per cent in 2013 and 6.6 per cent in 2014, respectively.
Myanmar's total trade volume in 2012 was $25.16 billion. The trade deficit reached $5.76 billion because total exports stood at $9.69 billion and total imports were $15.46 billion.
Source: http://www.news.myanmaronlinecentre.com/2013/09/13/myanmar-foreign-investment-hits-us43b/
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