Thursday, November 29, 2007

Myanmar Gets Over $750 Mil in Direct Investment

Source: Japan Today

Military-ruled Myanmar attracted foreign direct investment worth more than $750 million during fiscal year that ended March 31, 2007, according to official figures made available Wednesday. During the period, China, South Korea, Russia, Singapore and Britain invested in projects worth $752.7 million, mainly in the oil and gas sector, figures from the Central Statistical Organization said.

Four of the five investing countries went in for the oil and gas sector, accounting for more than 62 percent of investment in the year. Britain, which regularly criticizes Myanmar's junta for human rights abuses, invested $240.68 million in the oil and gas sector, followed by Singapore with $160.8 million in the same sector. South Korea and Russia invested in oil and gas at $37 million and $33 million, respectively.

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