Myanmar receives over $4b foreign investment

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myanmar beachMyanmar obtained $4.107 billion foreign investment in the fiscal year 2013-14 which ended in March, up from $1.4 billion in 2012-13, local media quoted the Directorate of Investment and Companies Administration as reporting on April 18.

Injected by 34 countries and regions, the foreign investment in 2013-14 covered manufacturing, energy, oil and gas, mining, hotels and tourism, real estate, livestock, fishery and agriculture. China stood as the largest investor, followed by Thailand and China’s Hong Kong Special Administrative Region.

According to the report, the 71 foreign-invested projects in 2013-14 up to December last year has created 50,751 jobs for local people. Myanmar promulgated a new foreign investment law in November 2012 in a bid to attract foreign investment to the country in line with its reform strategy.

Meanwhile, the Asia Development Bank said recently that Myanmar ‘s economic growth for 2013-14 is estimated at 7.5 per cent and the growth is expected to pick up to an annual rate of 7.8 per cent for each of the next two fiscal years.

Meanwhile, Myanmar’s President Thein Sein says the country will welcome 5 million international tourists by 2015. He told local media that global tourism associations are now recognising the country as a “top emerging destination”.

“Tourism will expand from 3 million trips to Myanmar by the end of 2014 to 5 million in 2015,” he said.

In 2013, Myanmar welcomed more than 2 million foreign visitors and earned $926 million from the tourism industry. Tourism earnings increased by nearly $400 million in comparison to 2012. There has been an astounding surge in international tourist arrivals, up 93 per cent since 2012.

The Myanmar Tourism Master Plan, 2013 to 2020, identifies 38 projects that require funding of $486 million to bring tourist attractions up to an international standard.

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Reading Time: 1 minute

Myanmar obtained $4.107 billion foreign investment in the fiscal year 2013-14 which ended in March, up from $1.4 billion in 2012-13, local media quoted the Directorate of Investment and Companies Administration as reporting on April 18.

Reading Time: 1 minute

myanmar beachMyanmar obtained $4.107 billion foreign investment in the fiscal year 2013-14 which ended in March, up from $1.4 billion in 2012-13, local media quoted the Directorate of Investment and Companies Administration as reporting on April 18.

Injected by 34 countries and regions, the foreign investment in 2013-14 covered manufacturing, energy, oil and gas, mining, hotels and tourism, real estate, livestock, fishery and agriculture. China stood as the largest investor, followed by Thailand and China’s Hong Kong Special Administrative Region.

According to the report, the 71 foreign-invested projects in 2013-14 up to December last year has created 50,751 jobs for local people. Myanmar promulgated a new foreign investment law in November 2012 in a bid to attract foreign investment to the country in line with its reform strategy.

Meanwhile, the Asia Development Bank said recently that Myanmar ‘s economic growth for 2013-14 is estimated at 7.5 per cent and the growth is expected to pick up to an annual rate of 7.8 per cent for each of the next two fiscal years.

Meanwhile, Myanmar’s President Thein Sein says the country will welcome 5 million international tourists by 2015. He told local media that global tourism associations are now recognising the country as a “top emerging destination”.

“Tourism will expand from 3 million trips to Myanmar by the end of 2014 to 5 million in 2015,” he said.

In 2013, Myanmar welcomed more than 2 million foreign visitors and earned $926 million from the tourism industry. Tourism earnings increased by nearly $400 million in comparison to 2012. There has been an astounding surge in international tourist arrivals, up 93 per cent since 2012.

The Myanmar Tourism Master Plan, 2013 to 2020, identifies 38 projects that require funding of $486 million to bring tourist attractions up to an international standard.

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