Myanmar sees foreign investment boom in first 4 months

Myanmar received 2.21 billion U.S. dollars in foreign investment in the first four months, with transport and communication sector leading in the line-up, local media reported Thursday. The transport and communication sector attracted 1.34 billion dollars, followed by the manufacturing sector with 426.8 million dollars, real estate 267.8 million dollars, hotel and tourism 56.9 million dollars and mining 28.69 million dollars. China stood as the largest investor with over 14 billion dollars, followed by Thailand with over 10 billion dollars and China's Hong Kong Special Administrative Region with over six billion dollars. According to the report, the 71 foreign-invested projects in fiscal year of 2013-2014 up to December have created 50,751 jobs for local people. Meanwhile, the Asia Development Bank said recently that Myanmar 's economic growth for 2013-2014 is estimated at 7.5 percent and the growth is expected to pick up to an annual rate of 7.8 percent for each of the next two fiscal years.