Myanmar foreign investments cross $2b

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myanmar investmentMyanmar received $2.21 billion worth of foreign investments in the first four months of 2014, with transport and communication sector leading, media reported Thursday.

The transport and communication sector attracted $1.34 billion, followed by the manufacturing sector with $426.8 million, real estate $267.8 million, hotel and tourism $56.9 million and mining $28.69 million, Xinhua reported.

China was the largest investor with $14 billion, followed by Thailand with over $10 billion and Hong Kong with over $6 billion.

According to the media report, the 71 foreign-invested projects in the fiscal 2013-14 till December have created 50,751 jobs for people.

The Asian Development Bank said Myanmar’s economic growth for the fiscal 2013-14 was estimated at 7.5 per cent and the growth is expected to pick up to an annual rate of 7.8 per cent for the next two consecutive fiscals.

The total foreign investment has reached $46.5 billion by the end of April.Myanmar has managed to create a total of 153,456 jobs over the last 3 fiscal years.

Moreover, the US has said it will open its first commercial service office in Myanmar to help US companies invest in the nation, marking another step towards reviving economic ties with the country. The move follows the restoration of diplomatic relations and the lifting of most economic sanctions,

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Reading Time: 1 minute

Myanmar received $2.21 billion worth of foreign investments in the first four months of 2014, with transport and communication sector leading, media reported Thursday.

Reading Time: 1 minute

myanmar investmentMyanmar received $2.21 billion worth of foreign investments in the first four months of 2014, with transport and communication sector leading, media reported Thursday.

The transport and communication sector attracted $1.34 billion, followed by the manufacturing sector with $426.8 million, real estate $267.8 million, hotel and tourism $56.9 million and mining $28.69 million, Xinhua reported.

China was the largest investor with $14 billion, followed by Thailand with over $10 billion and Hong Kong with over $6 billion.

According to the media report, the 71 foreign-invested projects in the fiscal 2013-14 till December have created 50,751 jobs for people.

The Asian Development Bank said Myanmar’s economic growth for the fiscal 2013-14 was estimated at 7.5 per cent and the growth is expected to pick up to an annual rate of 7.8 per cent for the next two consecutive fiscals.

The total foreign investment has reached $46.5 billion by the end of April.Myanmar has managed to create a total of 153,456 jobs over the last 3 fiscal years.

Moreover, the US has said it will open its first commercial service office in Myanmar to help US companies invest in the nation, marking another step towards reviving economic ties with the country. The move follows the restoration of diplomatic relations and the lifting of most economic sanctions,

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