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Foreign Investment in Myanmar Decli
- Subject: Foreign Investment in Myanmar Decli
- From: darnott@xxxxxxxxxxx
- Date: Mon, 04 Jun 2001 08:50:00
Foreign Investment in Myanmar Declines
Xinhua, Rangoon, 4 June 2001. Foreign investment in Myanmar totaled
U.S. dollars in two projects in the first two months of this year,
52.54 percent from the same period of 2000, according to the latest
issued by the country's Central Statistical Organization.
The investment, which came from Singapore and Canada during the
respectively amounted to 3.53 million dollars and 500,000 dollars in the
manufacturing and mining sectors.
In 2000, a total of 152.8 million dollars came to Myanmar from nine
and regions, mainly from the Republic of Korea, Britain, China and
investments were mostly injected into the sectors of manufacturing,
gas and agriculture.
According to official statistics, since the opening up to foreign
late 1988, Myanmar had drawn a total of such contracted investment of
billion dollars in 356 projects as of the end of 2000. Of the leading
investors, Singapore ranked the first with 1.504 billion dollars,
Britain with 1.401 billion and Thailand with 1.264 billion.
However, due to the Asian financial crisis in mid-1997, there emerged
of down sliding in Myanmar's annual foreign investment.