Aug 7, 2013

Thailand leads in Myanmar's foreign investor line-up in six months

Thailand invested 410 million U.S. dollars in Myanmar in the first half of 2013, leading in Myanmar's foreign investor line-up during the six-month period, the local Voice Daily reported Wednesday.

Thailand stood as the second largest foreign investor in the Southeast Asian member nation with nearly 10 billion dollars as of March 2013 after China, which brought in nearly 15 billion dollars, the report said quoting the Ministry of National Planning and Economic Development.

During the period, Vietnam injected 140 million dollars, and Singapore 136 million dollars.

More figures indicate that sectorally, foreign investment poured most in electric power sector with 19 billion dollars in the first six months of this year, followed by oil and gas with 14 billion dollars and mining with nearly 3 billion dollars.

Thailand also stood as Myanmar's second largest trading partner with a bilateral trade volume of 4.5 billion dollars in the 2012- 13 fiscal year as shown by figures of the Ministry of Commerce.

According to official statistics, contracted foreign investment in Myanmar totaled 42.118 billion dollars as of March 2013 since 1988.

Myanmar promulgated a new foreign investment law in November 2012.

Source: Xinhua