Myanmar approves over $154 mn of foreign investment in April-July

Yangon, Aug 13 (IANS) Myanmar approved more than $154 million in foreign investment in the first four months of the current fiscal year 2024-25, media reported.In this period from April to July, over $67 million were invested in the manufacturing sector, over $82 million in the transport sector, over $3 million in the electric power sector, $125,000 in the agricultural sector, and over $1 million in the livestock breeding sector, Xinhua news agency reported.More than 90 per cent of this investment went into two key sectors: transport and communications, and manufacturing, the report said.Foreign investment in Myanmar mainly focuses on five sectors: manufacturing, transport, electric power, agriculture, and livestock breeding, it added.The Southeast Asian country saw $1.64 billion in foreign investments in fiscal 2022-23, it said.--IANSint/khz

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)