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Myanmar receives 8 bln USD contracted foreign investment in 2014-15

Xinhua, April 22, 2015 Adjust font size:

Myanmar received contracted foreign investment of 8.01 billion U.S. dollars in the just-ended fiscal year of 2014-15, nearly doubled from 4.1 billion USD in 2013-14, official report said Wednesday.

Among the 12 sectors which the foreign investment was pouring in, oil and gas topped with 3.22 billion USD, followed by transport and communication with 1.68 billion USD, manufacturing with 1.5 billion USD, real estate with 780 million USD and hotels and tourist with 360 million USD, the Directorate of Investment and Company Administration was quoted as saying.

Myanmar expects to receive 6 billion USD of the foreign investment in the current fiscal year of 2015-16 which began in April.

According to official statistics, contracted foreign investment in Myanmar from 38 countries and regions reached 54.23 billion USD in 895 projects as of now from late 1988 when the country opened door to the outside world.

China remains the top investor in Myanmar with 74 Chinese enterprises having invested 14.75 billion USD, followed by Thailand with 10.26 billion USD and Singapore with 8.81 billion USD.

Sectorally speaking, power sector is leading with 19.32 billion USD accounting for 35.73 percent, followed by oil and gas with 17. 59 billion USD and manufacturing with 5.45 billion USD. Endi