Investment in Myanmar rises<\/p>\n
YANGON (Reuters): Foreign direct investment approved in
\nmilitary-ruled Myanmar in the seven months to October 31 totaled
\na meager US$60.4 million, but represented an improvement on a
\ndismal $24.95 million in the same period in 1998.<\/p>\n
Data from the Ministry of Planning and Economic Development
\nreceived by Reuters on Friday showed the investment for this year
\nwas in nine projects -- two each from Thailand and Japan and one
\nfrom Singapore, Britain, Indonesia, Hong Kong and South Korea.<\/p>\n
The ministry said five of the projects were in manufacturing,
\ntwo in mining and one each in the hotel and tourism and livestock
\nand fisheries sectors.<\/p>\n
Myanmar made a major shakeup in its investment commission
\nearlier this month, replacing Vice-Admiral Maung Maung Khin as
\nchairman with Science and Technology Minister U Thaung.<\/p>\n
Investment for the whole of last fiscal year to the end of
\nMarch totaled just $29.46 million, against $777.4 million the
\nprevious year.<\/p>",
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