Hydropower, mining, oil and gas sectors cover 85 per cent of total investment

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Investment sectors in hydropower, mining, oil and gas covered 85 per cent of total investment in Myanmar, said Aung Naing Oo, Director General of Directorate of Investment and Companies Administration in a conference held at Myanmar Investment Commission Office in July 25.

“The main foreign investment in Myanmar is hydropower. The investment in hydropower sector has over 40 per cent of overall investment. Exploring oil and natural gas came second and has over 30 per cent of total investment. The third is the mining sector and has 7 per cent of total investment,” he said.

Myanmar has now over US$42 billion from foreign investment and China is top among foreign investors. China’s investment accounts for 34 per cent of total foreign investment. Although foreign investment in above sectors is up, investment in production and agricultural sectors has a little investment.

“Although foreign investment those three sectors are high, investment in agricultural which is the important sector for 70 per cent of total population and labour intensive industries which can create many job opportunities are low. We are trying to make investment increase in those sectors,” the director general said.

Source: Eleven Media

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