Myanmar received $34.2b in foreign investments

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MyanmarOver the past 25 years, Myanmar received a total of $34.2 billion’s actual foreign investment flow into the country, state media reported on January 17.

The $34.2 billion from 25 countries and regions was injected into 381 projects of 11 sectors as of December 2013 from late 1988, Deputy Minister of National Planning and Economic Development Dr. Daw Khin San Yi told the ongoing Lower House session of the parliament in Nay Pyi Taw.

Myanmar promulgated a new foreign investment law in November 2012, replacing the over-two-decade-long 1988 similar law in a bid to further attract foreign investment to the country in line with its reform strategy.

The new law allows foreigners to make full investment or joint venture operation with local partners on mutually-agreed ratio of investment.

However, economists said that skyrocketing prices of real estate is deterring new foreign investment entering Myanmar.

The deputy minister further revealed that the government created over 300,000 job opportunities in the country as of the end of 2013 since 1988.

According to Myanmar Economic Indicators released by the International Monetary Fund, Myanmar’s GDP grew 5.5 per cent with consumer price inflation reaching 7.3 per cent in 2013. It is estimated that the country’s GDP will rise 6.2 per cent with a 6.6-per cent consumer price rise in 2014.

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Reading Time: 1 minute

Over the past 25 years, Myanmar received a total of $34.2 billion’s actual foreign investment flow into the country, state media reported on January 17.

Reading Time: 1 minute

MyanmarOver the past 25 years, Myanmar received a total of $34.2 billion’s actual foreign investment flow into the country, state media reported on January 17.

The $34.2 billion from 25 countries and regions was injected into 381 projects of 11 sectors as of December 2013 from late 1988, Deputy Minister of National Planning and Economic Development Dr. Daw Khin San Yi told the ongoing Lower House session of the parliament in Nay Pyi Taw.

Myanmar promulgated a new foreign investment law in November 2012, replacing the over-two-decade-long 1988 similar law in a bid to further attract foreign investment to the country in line with its reform strategy.

The new law allows foreigners to make full investment or joint venture operation with local partners on mutually-agreed ratio of investment.

However, economists said that skyrocketing prices of real estate is deterring new foreign investment entering Myanmar.

The deputy minister further revealed that the government created over 300,000 job opportunities in the country as of the end of 2013 since 1988.

According to Myanmar Economic Indicators released by the International Monetary Fund, Myanmar’s GDP grew 5.5 per cent with consumer price inflation reaching 7.3 per cent in 2013. It is estimated that the country’s GDP will rise 6.2 per cent with a 6.6-per cent consumer price rise in 2014.

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