500 foreign firms invested in Myanmar in over the last 20 yrs
A total of 477 foreign companies came and invested in Myanmar over the past two decades, injecting US$41.029-B as of June 2012 since the country opened to such investment in late Y 1988, local media Popular News reported Tuesday.
Most of the foreign companies were from Singapore, followed by Thailand, Britain, South Korea, Malaysia, China’s Hong Kong, China, Japan, the United States and Australia, the Directorate of Investment and Companies was quoted as saying.
Their investment were scattered in sectors of power, oil and gas, mining, industrial estate, hotel and tourism, livestock and fisheries and transportation.
Of the companies, 170 were engaged in industrial estate sector, while 113 in Oil and Gas sector and 66 in mining.
According to latest official statistics, in the 1st 5 months of Y 2012, Myanmar drew over US$408-M foreign investment in 20 projects from 10 countries and regions.
During the period, the largest investment was injected into the sector of oil and gas with 366.59 million dollars, followed by manufacturing with US$21.424-M and mining with US$19.897-M.
Country- or region-wise, Britain led with US$138.597-M, followed by India with US$73-M, China’s Hong Kong with US$60-M, Malaysia with US$49.5-M, Panama with US$26-M, Singapore with US$20-M, Vietnam with US$18.147-M, South Korea with US$15.24-M, Japan with US$5.03-M and China with US$1.75-M.
According to the figures as of 30 June 2012, there were 28,403 domestic companies, 1,356 foreign companies, 1,072 production- sharing companies, 72 joint venture companies, and 49 organizations.
Meanwhile, domestic private investment in Myanmar increased by 33-B Kyats (US$37.93-M) in the 1st 5 months of Y 2012, reaching 1.66-T Kyats as of May 2012, up from 1.62-T Kyats in January 2012
