Myanmar investments jump fivefold

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Most of the investments went into Myanmar's garment sector
Most of the investments went into Myanmar’s garment sector

Investment into the newly opened economy of Myanmar have increased fivefold between the fiscal years 2011/12 and 2012/13, ending in March, the country’s president Thein Sein announced in a speech on May 13.

“Over $1.42 billion foreign direct investment was made for 94 enterprises while local investors made $1.3 billion for 65 enterprises, creating a total of 82,792 job opportunities,” he said.

Myanmar had attracted about $300 million in foreign direct investment for 11 enterprises in the previous fiscal year starting in April 2011.

Most of the investment in fiscal 2012/13 came from China, Hong Kong, Japan, South Korea and Singapore, and much of it went into the garment sector.

The outlook remains  bright, especially after the easing of trade and investment sanctions imposed by Western countries on the military regime that ran Myanmar until March 2011.

The investment climate has also been improved by a new foreign investment law passed in November 2012, but still has its pitfalls, foreign investors say.

 

 

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Reading Time: 1 minute

Most of the investments went into Myanmar’s garment sector

Investment into the newly opened economy of Myanmar have increased fivefold between the fiscal years 2011/12 and 2012/13, ending in March, the country’s president Thein Sein announced in a speech on May 13.

Reading Time: 1 minute

Most of the investments went into Myanmar's garment sector
Most of the investments went into Myanmar’s garment sector

Investment into the newly opened economy of Myanmar have increased fivefold between the fiscal years 2011/12 and 2012/13, ending in March, the country’s president Thein Sein announced in a speech on May 13.

“Over $1.42 billion foreign direct investment was made for 94 enterprises while local investors made $1.3 billion for 65 enterprises, creating a total of 82,792 job opportunities,” he said.

Myanmar had attracted about $300 million in foreign direct investment for 11 enterprises in the previous fiscal year starting in April 2011.

Most of the investment in fiscal 2012/13 came from China, Hong Kong, Japan, South Korea and Singapore, and much of it went into the garment sector.

The outlook remains  bright, especially after the easing of trade and investment sanctions imposed by Western countries on the military regime that ran Myanmar until March 2011.

The investment climate has also been improved by a new foreign investment law passed in November 2012, but still has its pitfalls, foreign investors say.

 

 

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