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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Foreign investment in Myanmar soars AP - 2 hours 51 minutes ago YANGON, Myanmar - Foreign investment in Myanmar _ much of it from China _ nearly doubled in the first nine months of 2008 compared to the same period last year, according to government statistics seen Monday. Mining accounted for more than 88 percent of the total foreign investment _ a record for that sector. Investment from January to September last year jumped to $974.9 million dollars from $502.5 million in the same period the previous year, said the Ministry of National Planning and Development in its latest statistical survey. That was the second-highest amount for this nine-month span after 2006, when Thailand built a hydroelectric plant. China accounted for $855 million of the $860.9 million invested in mining while Russia and Vietnam added $114 million in the oil and gas sector. China has signed a number of agreements with the resource-rich country to mine gems, gold and nickel. The U.S. and European Union have imposed economic sanctions on Myanmar to pressure the military government to improve human rights and release detained pro-democracy leader Aung San Suu Kyi. Since Myanmar liberalized its investment code in late 1988, it has attracted large investments in the hydro-electric power and oil and gas sectors. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Hong Kong's main stock index rises 3.5 percentAP - 1 hour 56 minutes ago Foreign investment in Myanmar soarsAP - 2 hours 51 minutes ago China has leeway to adjust monetary policy: senior officialAFP - Tuesday, January 6 Japan auto sales fall to 34-year low in 2008: industry groupAFP - Tuesday, January 6 Related Articles: Business Explosion cuts daily oil output by 12,000 barrelsAP - 31 minutes ago Thai stimulus plans to help prevent deflation - PMReuters - 37 minutes ago China sovereign wealth fund says cash is kingReuters - 37 minutes ago DRAM maker Powerchip seeks to cut costs, sell assetsReuters - 37 minutes ago TOPWRAP 3-U.S. and Germany weigh tax moves, markets cheeredReuters - 42 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US steel industry in collapse, eyes government aid: report Israeli army moves on Gaza City as war toll passes 510 John Travolta's teenage son dies, autopsy planned France leads alarm over Gaza, splits with US Rare Bugatti untouched for 50 years could fetch millions: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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