First 10 months of 2014 sees US$50bn foreign investment in Myanmar

Foreign investment in Myanmar for the first 10 months of the year up until October stood at over US$50 billion, comprised of 29 companies from 11 countries, according to a press release of the Directorate of Investment and Companies Administration on November 11.

South Korea and Singapore topped the list of countries that include Britain, Hong Kong, Norway, China, Germany, Thailand, Brunei, Sri Lanka and Japan.

In total, 37 countries have invested in Myanmar to date.

From January to October inclusive, foreign investment stood at US$50.221 billion, including a US$319 million injection in October.

U Set Aung, chairman of the Thilawa Special Economic Zone Management Committee told Mizzima in October: “Given the economic opportunity presented by Myanmar, the number of investor countries will increase year by year. To facilitate this, appropriate policies are to be adopted to benefit both investors and the government.”

Four companies from South Korea invested a total of over US$108 million and eight Singaporean companies provided US$80 million. But one single company from Britain invested over US$74 million.

One company from Norway was the first from this country arriving in October with over US$11 million, placing fifth on the Myanmar investment table.


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