Wednesday, April 20, 2016
Myanmar Foreign Direct Investment Up 18%
Foreign direct investments in Myanmar rose 18% during the full year ended March 31, with the capital inflow fueled by economic growth expectations for a country making a historic break from its military-led past.
About $9.48 billion worth of foreign investments were approved, data by Myanmar's investment authority shows. The amount is dwarfed only by the roughly $20 billion logged in fiscal 2010, which was marked by a series of investments by Chinese enterprises in hydroelectric power projects. The government started keeping records in fiscal 1988.
Fiscal 2015's figure, however, is the largest since Myanmar started undergoing democratic reforms in 2011.
Although Myanmar definitely has challenges this news is excellent. The country will need a whole lot more investment. As long as the politicians don't screw it up (like Mongolia) the money should continue to come in. Myanmar is forecasted to be one of if not the fastest growing economy in 2016