Saturday, August 19, 2017 - 12:43:27

FDI in Myanmar reaches 53 mln USD in September

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Foreign investment flow into Myanmar reached 53.45 million USD in September, raising the total figure since the country issued its first law on foreign investment in 1988 to over 44.21 billion USD, according to Xinhua news agency.

The news agency cited latest figure from Myanmar’s Central Statistical Organisation as showing that nine countries and regions invested in the country in September, pouring 37.6 million USD into the manufacturing sector, 6.61 million USD in agriculture, 5.2 million USD in tourism, and 4.04 million USD in mining.

Among the investors, China ’s Hong Kong ranked first with 12.45 million USD, followed by the UK , the Republic of Korea and France .

Last year, Myanmar promulgated a new foreign investment law to replace the 1998 version in a bid to attract more foreign investment in line with its reform strategy.

According to Myanmar Economic Indicators released by the International Monetary Fund (IMF), the nation’s gross domestic product ( GDP ) is estimated to grow by 5.5 percent in 2013, with consumer price inflation at 7.3 percent. Myanmar ’s GDP is expected to rise 6.2 percent next year, with a 6.6 percent increase in consumer price inflation.-VNA
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