China’s long-held position as the biggest investor in Myanmar has been highlighted by government figures showing it has accounted for nearly a third of all approved foreign investment since 1988.
The figures, obtained by Mizzima from the Myanmar Investment Commission, show that of the $43.735 billion in approved investment since 1988, Chinese companies accounted for US$14 billion, or 32 percent of the total.
The MIC figures, to September 30 this year, also show that the sector in which the most investment has been approved during the same period is electricity, at more than $19 billion, or nearly 44 percent of the total ($43.735 billion).
The figures showing approved investment by country or territory show that China is followed by Thailand ($9.984 billion) at 22.83 percent, Hong Kong ($6.458 billion) at 14.77 percent, Britain ($3.055 billion) at just under seven percent, South Korea ($3.044) at 6.96 percent, Singapore ($2.437 billion) at 5.57 percent and Malaysia (1.625 billion) at 3.72 percent.
A total of 51 enterprises from China have been given approval to invest in Myanmar, followed by Thailand (69), Hong Kong (61), Britain (62), South Korea (84), Singapore (94) and Malaysia (46).
The United States is ranked 13th on the list, with 15 enterprises having won approval for investments totalling $243 million.
The 17 other countries or territories on the list include Vietnam, France, India, Japan, Russia, Indonesia, Liberia, the Philippines, Australia, Germany and Canada.
The figures for approved investment by sector show that electricity is followed by oil and gas ($14.372 billion) at 32.86 percent, mining ($2.833 billion) at 6.48 percent, manufacturing ($3.441 billion) at 7.87 percent, hotels and tourism ($1.952 billion) at 3.65 per cent and real estate ($1.129 billion) or 2.58 percent.
The five other sectors on the list – industrial estates, agriculture, transport and communications, livestock and fisheries and other services – accounted for approved investment totalling $1.126 billion.
China also heads the list of actual investment by country for the period, at $14.115 billion, or nearly 42 percent of the total, $33.671 billion.
However, the list of actual investment by sector is headed by oil and gas, at $13.630 billion, or 40.48 percent of the total, closely followed by electricity at $13.207 billion (39.23 percent), with mining a distant third at $2.308 billion (6.86 percent).
Hong Kong follows China on the list of actual investment by country or territory, at $6.365 billion (18.91 percent), with South Korea in third place at $2.973 billion (8.83 percent).
In fourth position is Thailand at $2.876 billion (8.54 percent), followed by Britain at $2.503 billion (7.43 percent), Singapore at $2.100 billion (6.24 percent), Malaysia at $1.028 billion (3.05 percent) and Vietnam at $511 million (1.51 percent).
The list shows that 31 enterprises from China have invested in Myanmar, followed by Hong Kong (44), South Korea (71), Thailand (33), Britain (30), Singapore (58) and Malaysia (19).
In fourth position on the list of actual investment by sector is manufacturing at 2.238 billion (6.65 percent), hotels and tourism at $1.344 billion (3.99 percent), real estate at $347 million (1.03 percent), industrial estates at $179 million (0.53 percent) and agriculture at $163 million (0.48 percent).
Then come transport and communications at $137 million (0.41 percent), livestock and fisheries at $88 million (0.26 percent) and “other services” at $25 million (0.08 percent).
The list shows that 64 enterprises had invested in oil and gas, followed by five in electricity, 10 in mining, 197 in manufacturing and 34 in hotels and tourism.
Source: Mizzima News Myanmar