HOUSE OF THE WEEK
Kamaryut duplex on offer as sale or rental
YOU can buy it or you can rent it, and it’s available at Hanthar Yeikmon housing project, just off Bayintnaung Road, about 25 minutes from downtown, and not far from the Hledan Junction and Thirimingalar market. more
China FDI climbs by just $15m
(Volume 26, No. 520)
TOTAL foreign direct investment in Myanmar from China hit US$1.85 billion by the end of 2009-2010 financial year, with significant expenditures in hydropower, oil and gas and mining, official figures show.
However, only $15 million of that total investment was added during the 2009-10 fiscal year. It leaves China as the third largest investor in Myanmar behind Thailand and the United Kingdom.
“The FDI flow from China contributes 12 percent of total FDI in our country,” U Htay Chun, deputy director general of the Directorate of Investment and Company Administration, said at the recent China-Myanmar Business Conference at Traders Hotel.
According to statistics from the Ministry of National Planning and Economic Development, total FDI in Myanmar was $16.05 billion to March 31, 2010.
“Thailand, United Kingdom and China, Singapore and Malaysia are leading countries investing in Myanmar,” U Htay Chun said. He added that there are 63 Chinese firms investing in Myanmar.
