Figures on decline of investment in (r)

[darnott@xxxxxxxxxxx]

Subject: Figures on decline of investment in Burma

Could someone with access to the "latest economic  indicators issued by the
country's central statistical organization" (would this be the latest edition
of the "Review of the financial, economic and social conditions" put out by
the
Ministry of National Planning and Economic Development of the Union of
Myanmar?), and with the capacity to analyse them, give us a more comprehensive
assessment than we are receiving from these Xinhua snippets:


The Xinhua General Overseas News Service   

AUGUST 19, 1999

Foreign investment in Myanmar encounters sharp drop 

Yangon, August 19


Myanmar absorbed only 619 million US dollars of foreign investment up to the
end of April this year since the outbreak of the Asian financial crisis in
July
1997. According to the latest economic indicators issued by the country's
central statistical organization, the amount of foreign investment brought in
during the nearly two-year period did not come up to the amount drawn in the
first half of 1997 before the outbreak of the crisis which reached as high as
892 million dollars. According to the indicators, foreign investment in
Myanmar
in fiscal 1998-99 dropped to the lowest level as compared with the past five
fiscal years. The foreign investment hit a peak in 1996-97 with 2.814 billion
dollars. 

***************


Foreign investment in Myanmar plummets 

Xinhua News Agency 

2 August 1999 

Myanmar received a total of 29.45 million US dollars of foreign investment in
fiscal 1998-99, accounting for only 3.78 percent and 1.04 percent of that
drawn
in 1997-98 and 1996-97 respectively, official figures show. According to the
latest economic indicators published by the country's central statistical
organization, there were only 10 investment projects during 1998-99 that came
from eight countries and regions. They are from Britain, China, the Hong Kong
special administrative region, India, Indonesia, Japan, Singapore and
Thailand.
Of the investment, that in the manufacturing sector made up the highest with
19.57 million dollars in 5 projects, followed by fisheries with 5 million
dollars in one project and mining with 4.88 million dollars in 4 projects. The
economic indicators show that the foreign investment in the country in 1998-99
dropped to the lowest level as compared with the past five fiscal years. the
foreign investment hit a peak in 1996-97 with 2.814 billion dollars. One of
the
main reasons for the steep drop in Myanmar's foreign investment is the impact
of the Asian financial crisis. Brigadier-General Abel, Myanmar minister at the
office of the Chairman of the State Peace and Development Council, admitted
recently that due to the effect of the crisis, the direct investment in
Myanmar
from member countries of the Association of Southeast Asian Nations fell by 70
percent. According to official statistics, Myanmar had drawn a total of 7.108
billion dollars of foreign investment from 24 countries and regions up to the
end of April this year since the country opened to foreign investment and
adopted a market-oriented economic policy in late 1988. 


Internet ProLink PC User

--=====================_2625070==_.ALT
Content-Type: text/html; charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable

Could someone with access to the "latest economic  indicators issued by the
country's central statistical organization" (would this be the latest
edition of the "Review of the financial, economic and social conditions"
put out by the Ministry of National Planning and Economic Development of
the Union of Myanmar?), and with the capacity to analyse them, give us a
more comprehensive assessment than we are receiving from these Xinhua
snippets:


The Xinhua General Overseas News Service   

AUGUST 19, 1999

Foreign investment in Myanmar encounters sharp drop 

Yangon, August 19


Myanmar absorbed only 619 million US dollars of foreign investment up to
the end of April this year since the outbreak of the Asian financial crisis
in July 1997. According to the latest economic indicators issued by the
country's central statistical organization, the amount of foreign
investment brought in during the nearly two-year period did not come up to
the amount drawn in the first half of 1997 before the outbreak of the
crisis which reached as high as 892 million dollars. According to the
indicators, foreign investment in Myanmar in fiscal 1998-99 dropped to the
lowest level as compared with the past five fiscal years. The foreign
investment hit a peak in 1996-97 with 2.814 billion dollars. 

***************


Foreign investment in Myanmar plummets 

Xinhua News Agency 

2 August 1999 

Myanmar received a total of 29.45 million US dollars of foreign investment
in fiscal 1998-99, accounting for only 3.78 percent and 1.04 percent of
that drawn in 1997-98 and 1996-97 respectively, official figures show.
According to the latest economic indicators published by the country's
central statistical organization, there were only 10 investment projects
during 1998-99 that came from eight countries and regions. They are from
Britain, China, the Hong Kong special administrative region, India,
Indonesia, Japan, Singapore and Thailand. Of the investment, that in the
manufacturing sector made up the highest with 19.57 million dollars in 5
projects, followed by fisheries with 5 million dollars in one project and
mining with 4.88 million dollars in 4 projects. The economic indicators
show that the foreign investment in the country in 1998-99 dropped to the
lowest level as compared with the past five fiscal years. the foreign
investment hit a peak in 1996-97 with 2.814 billion dollars. One of the
main reasons for the steep drop in Myanmar's foreign investment is the
impact of the Asian financial crisis. Brigadier-General Abel, Myanmar
minister at the office of the Chairman of the State Peace and Development
Council, admitted recently that due to the effect of the crisis, the direct
investment in Myanmar from member countries of the Association of Southeast
Asian Nations fell by 70 percent. According to official statistics, Myanmar
had drawn a total of 7.108 billion dollars of foreign investment from 24
countries and regions up to the end of April this year since the country
opened to foreign investment and adopted a market-oriented economic policy
in late 1988. 


Internet ProLink PC User


--=====================_2625070==_.ALT--