Foreign capital in Myanmar

Foreign capital in Myanmar

YANGON (Reuter): Firms from 18 countries have invested a total
of US$2.59 billion in Myanmar since 1988, Myanmarese Finance
Minister Brigadier General Win Tin, said.

Speaking at the opening of a foreign bank representative
office, he said the government had approved 130 ventures
involving foreign investment since market reforms to a state-
dominated economy began in 1988.

"Foreign investors from Singapore, Thailand, Malaysia, Hong
Kong and Korea have deepened their links with our country," he
said in a speech published in Yangon newspapers yesterday.

Some Yangon diplomats say foreigners are still wary of making
large investments in Myanmar because of poor infrastructure, an
overvalued official currency and political uncertainty.