China leads surge in foreign investment in Myanmar during first 9 months

By Associated Press
3:10 AM CST, January 5, 2009
YANGON, Myanmar (AP) — Foreign investment in Myanmar — much of it from China — nearly doubled in the first nine months of 2008 compared to the same period last year, according to government statistics seen Monday.

Mining accounted for more than 88 percent of the total foreign investment — a record for that sector.

Investment from January to September last year jumped to $974.9 million dollars from $502.5 million in the same period the previous year, said the Ministry of National Planning and Development in its latest statistical survey.

That was the second-highest amount for this nine-month span after 2006, when Thailand built a hydroelectric plant. continue,0,3659058.story

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