The tourist sector is receiving the most local investment, followed by industry and construction, according to the Myanmar Investment Commission (MIC).
Aung Naing Oo, secretary of the MIC, said: “Investment has been allowed since 2011-2012. There were 34 projects by Myanmar investors worth Ks 240 billion (US$240 million) in 2011-2012. A total of 65 projects worth Ks 1,104 billion were started in 2012-2013. There were 68 projects worth Ks 1,268 billion in 2013-2014 and 22 worth Ks 587 billon by the end of September.”
There are 26 entry points to Myanmar used by foreigners, mostly border gates and tourism has exceeded the 2013 record. In addition, foreign investment in hotels and the tourism sector is also increasing and foreign investment in hotel construction has exceeded $2 billion.
Total investment in real estate by the end of October was $1,3 billion.
In three years of foreign investment in Myanmar, the electricity sector has received the most, followed by production and telecoms.
“Before 2011, investment in Myanmar relied on natural resources. In 2012, investment in industry increased while investment in raw materials fell. Funding of industry, hotel construction, tourism and telecoms has risen especially,” said Aung Naing Oo.
Source: ELEVEN MYANMAR