Myanmar foreign investments cross $2 bn

Yangon, May 15 (IANS) Myanmar received $2.21 billion worth of foreign investments in the first four months of the year, with transport and communication sector leading, media reported Thursday.

The transport and communication sector attracted $1.34 billion, followed by the manufacturing sector with $426.8 million, real estate $267.8 million, hotel and tourism $56.9 million and mining $28.69 million, reported Xinhua.

China was the largest investor with $14 billion, followed by Thailand with over $10 billion and China's Hong Kong Special Administrative Region with over $6 billion.

According to the media report, the 71 foreign-invested projects in the fiscal 2013-14 till December have created 50,751 jobs for people.

The Asian Development Bank said Myanmar's economic growth for the fiscal 2013-14 was estimated at 7.5 percent and the growth is expected to pick up, to an annual rate of 7.8 percent for the next two consecutive fiscals.