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Myanmar enjoys five-fold jump in foreign investment

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

Domestic and foreigninvestment in Myanmar increased by five times in 2012-13, PresidentThein Sein said in Madalay on May 12.

Over 1.41 billion USD wasmade for 94 enterprises while domestic investors made 1.22 billion USDfor 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 April2011.

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