Myanmar’s foreign investment in the fiscal year which ended in March was almost five times higher than the previous year, especially in garments and textiles.

Domestic and foreign investment in Myanmar increased by five times in 2012-13, President Thein Sein said in Madalay on May 12.

Over 1.41 billion USD was made for 94 enterprises while domestic investors made 1.22 billion USD for 65 enterprises, creating a total of 82,792 jobs, he said.

According to a senior official from the Myanmar Investment Commission, the country attracted about 300 million USD in foreign direct investment (FDI) for 11 enterprises in the previous fiscal year starting in April 2011.

Of 94 enterprises calling for investment, 78 were in the labour-intensive manufacturing sector, mostly garment factories, he said, noting that most of investment in fiscal 2012-13 came from China, Japan, the Republic of Korea and Singapore.-VNA