Foreign investment in Myanmar dropped by 10.7 percent in the first three quarters of 2002 compared with the same period of 2001, registering US$45.52 m, according to the latest data published by the Ministry of National Planning and Economic Development.
These contracted investments were injected into the sectors of oil and gas (US$44 m), and manufacturing (US$1.52 m) by investors from Malaysia and China's Hong Kong respectively.
Members of the Association of Southeast Asian Nations (ASEAN) used to be
Myanmar's largest foreign investors.
In 2001, Myanmar's foreign investment amounted to US$58.97m in the
five sectors of manufacturing, construction, hotels and tourism, oil and gas, and mining.
According to official statistics, since opening up to the outside world in late 1988, Myanmar had drawn US$7,443.7m of contracted foreign investment in 374 projects as of September 2002, of which ASEAN took up US$3,844m, or 51.64 per cent.
