Feb 19, 2013

Private investment up K133 bn in crucial sectors within January

In a country where most investments go to lucrative mining, hydropower and oil and gas, private investment worth 133 billion kyats (US$156.5m) has been put into transportation, manufacturing, farming and others within a month.

Last month saw 11 new businesses in Myanmar, leading to an increase in the total of its private investment from K2260 billion (US$2.66bn) to K2393 billion (US$2.82bn), according to the reports of the Directorate of Investment and Company Administration.

Investment in transportation was up K21.25 billion reaching K292.13 billion, while that in manufacturing up K21.9 billion reaching K575.86 billion.

Meanwhile, the least was the increase of investment in farming which was K4.65 billion only. Total investment in the sector reached K21.6 billion in January. Investments in other sectors amounted to K85.12 billion, making the total figure K229.27 billion.

Analysts pointed out that investment in agriculture of Myanmar is still very low at 547 million, although the country is an agricultural country, whose major export products are rice and beans.

Myanmar Citizens’ investment figures (in billion kyats)

Industry                    2012 Dec’          2013 Jan’          Net Increase
Manufacturing           553959 .21         575859 .90        21900 .69
Transportation           270877 .46         292127 .46        21250 .00
Farming                      16953 .00           21603 .00          4650 .00
Others                      144150 .16          229274 .21        85124 .05

Source: Eleven Weekly Media