European investment in Myanmar rises

Investment from European countries in Myanmar has increased since last fiscal year, according to the Myanmar Investment Commission.

Investment from European countries reached nearly US$6 billion between April and February this fiscal year, followed by the UK ($4.073 billion), the Netherlands ($989 million), France ($541 million), Luxembourg ($45 million), Switzerland ($14 million) and Norway ($11 million).

Up to the end of February in the 2015-16 fiscal year, China topped the lists of foreign countries with investments in Myanmar.  It stands first with over US$15 billion of investments in 126 projects, which have been developed from 1985 to 2015, followed by Singapore, with over $12 billion in 199 projects.

Foreign direct investment from 43 countries has come into Myanmar, most of it into the country’s oil and gas sector.  The sector has attracted $19 billion into 151 projects, followed by the energy sector with $19 billion investment.

According to the Directorate of Investment and Company Administration under the Ministry of National Planning and Economic Development, Myanmar has received a total of over $23.84 billion in foreign direct investment between the 2011-2012 fiscal year and the 2015-2016 fiscal year.

Source: NG/Union Daily

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