Written by Admin on September 13, 2013. Posted in Business, News
According to Myanmar Investment Commission figures, some 600 foreign entities have invested USD 43.68 billion in 12 sectors by August 31 this fiscal year.
"Myanmar has foreign investments from 32 countries in four major sectors: energy, oil and gas, mining, and manufacturing," an unnamed official of MIC is quoted as saying.
China is traditionally the top investor in Myanmar, followed by Thailand, Hong Kong and South Korea.
UK and France are among major investors from Europe while the country is shifting from Asian investors to the western and multinational firms.
According to the report, Thailand imported most from Myanmar with 41 percent of Myanmar's exports going to the neighbouring economy last year.
China is the country's largest supplier with 37 percent of imports coming from China. But more imports are believed to enter the country through illegal routes.
The International Monetary Fund and Asia Development Fund have predicted the constant GDP growth of the country till 2030. Myanmar's trade volume last year is USD 25.16 billion.
Myanmar government yet to give green light to private electricity suppliers Private energy firms are poised to supply electricity to local market as they await the government's approval for Power Purchase Agreement, Eleven Myanmar reported.
A local entrepreneur said in Myanmar Global Investment Forum said the private power plants are ready to provide services when the government gives go-ahead nod with PPA.
photo is taken of myanmar int'l terminal port
Source: http://www.news.myanmaronlinecentre.com/2013/09/14/myanmar-receives-increasing-investments-from-abroad/
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