LedgerGermane
  • According to a report from the Ministry of National Planning and Development, released on Thursday, investment jumped from $172.7m in the 2007- 2008 fiscal year to $984.9m.

  • The ministry said 87 per cent of the total invested in Myanmar came from China.

  • The surge in investment comes despite wide-ranging sanctions imposed on military-ruled Myanmar - formerly known as Burma - that have virtually cut off any investment from the US and European Union.

  • The country has large and underdeveloped reserves of oil, gas and timber as well as minerals and precious stones.

  • China’s investment in Myanmar is focused mainly on energy and natural resources, which its needs to fuel its rapidly expanding industrialisation and urbanisation.

  • According to reports Chinese corporations are involved in at least 90 hydropower, mining and oil and gas projects across the country.

  • The projects include construction of hydropower dams as well as a large pipeline project across the length of Myanmar aimed at transporting gas and oil to China’s landlocked southern Yunnan province.