Mar 27, 2013

British companies fuel jump in investment in Myanmar

Foreign investment in Myanmar has surpassed US$42 billion after companies from China, Japan, Singapore, the United Kingdom and Vietnam invested more than $253 million in the country last month, figures from the Directorate of Investment and Companies Administration show.

The oil and gas industry was the top draw for foreign investment in February, attracting more than $190 million. Investment by firms from the United Kingdom made that country Myanmar’s largest foreign investor last month.

Myanmar is seeing rising inflows of investment following the liberalisaiton of its foreign investment regime, including investment into natural resource production and manufacturing of alcohol, beer and cigarettes.

From 1998 to January 31, 2011, cumulative foreign investment in Myanmar totaled $35.518 billion. It rose to $40.699 billion by the end of April the following year and to $42.095 at the end of last month, according to official figures.

Source: Eleven Weekly Media


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