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Thailand invested $10 billion in Myanmar

Staff writer |
Thailand invested $410 million in Myanmar in the first half of 2013 and now is the second largest foreign investor with $10 billion invested, the Voice Daily reported.

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Thailand is the second largest foreign investor in that Southeast Asian country with approximately $10 billion as of March 2013 after China with $15 billion, the report said quoting the Ministry of National Planning and Economic Development. During the period, Vietnam injected $140 million, and Singapore 136 million dollars.

The report shows that foreign investment poured most in electric power sector with $19 billion in the first six months of this year, followed by oil and gas with $14 billion and mining with nearly $3 billion. Thailand is also Myanmar's second largest trading partner with a bilateral trade volume of $4.5 billion in the 2012-2013 fiscal year.

According to official statistics, contracted foreign investment in Myanmar totalled 42.118 billion dollars as of March 2013 since 1988.

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