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Myanmar to launch investment summit in Yangon

06-14-2012 21:33 BJT

YANGON, June 14 (Xinhua) -- Myanmar will launch first-ever investment related summit at Park Royal Hotel here this month, the Myanmar Times reported Thursday.

Organized by Singapore-based CMT, the New Myanmar Investment Summit 2012, scheduled for June 20 to 21, is expected to draw participants from more than 250 foreign companies.

Participants will discuss investment opportunities in Myanmar' s key economic sectors, with senior government officials making presentations and business executives dwelling on topics such as the legal impact of the new foreign investment law, land rights and relocating manufacturing operations in Myanmar.

Investment opportunities in such sectors as agriculture, oil and gas, mining, electric power and manufacturing will also be covered.

Participants are looking forward to meeting with local entrepreneurs, agents or distributors to seek establishment of joint venture or partnership with them.

Total foreign investment in Myanmar reached 40.699 billion U.S. dollars in 458 projects as of March 2012 since the country opened to such investment in late 1988, official figures showed.

Of the 31 countries and regions investing in Myanmar, China led with 13.947 billion U.S. dollars accounting for 34.5 percent, followed by Thailand with 9.568 billion dollars, China's Hong Kong with 6.308 billion dollars, South Korea 2.938 billion. dollars, Britain 2.659 billion dollars and Singapore 1.818 billion dollars.

Meanwhile, a bill on the amendment of the over-two-decade-long foreign investment law is to be touched upon in the next parliament session due on July 4 in the process of Myanmar's economic reform.

Editor:Wang Chuhan |Source: Xinhua

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