Foreign investment in Myanmar hits 15 bln USD

YANGON, Jul. 6, 2009 (Xinhua News Agency) — Foreign investment in Myanmar hit 15. 77 billion U.S. dollars as of May this year since the country was open to foreign investment in 1988, the local Weekly Eleven News reported Monday.

Of the total foreign investment from 31 countries and regions in 424 projects, Thailand is leading with 7.41 billion U.S. dollars, accounting for 46.98 percent, the Union of Myanmar Federation of Chambers of Commerce and Industry was quoted by the report as saying.

The second biggest foreign investor is the United Kingdom with 1.86 billion U.S. dollars or 11.8 percent, while the third is Singapore with 1.55 billion U.S. dollars and the fourth China with 1.33 billion U.S. dollars.

They were followed by Malaysia (660.75 million U.S. dollars), Hong Kong SAR (504.22 million U.S. dollars), France (469 million U. S. dollars), the United States (243,565 million U.S. dollars), Indonesia (241.50 million U.S. dollars) and South Korea (239.32 million U.S. dollars).

Their investments were respectively injected into 12 economic sectors , including electric power, oil and gas (OTCBB:PWOIF) , manufacturing, real estate, hotels and tourism, mining, transport and communications, livestock breeding and fisheries, industry, construction, agriculture and services sector.

(Source: iStockAnalyst )

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