In the last fiscal year it dropped from 985 million to 315 dollars. There were no funds from China, which in 2008-9 accounted for 87% of the total. International experts urge caution with data provided by the regime. Exports up by 12% to 7.6 billion dollars.

Yangon (AsiaNews / agencies) – Foreign investment in Myanmar has fallen by over two-thirds in the last fiscal year, due to the economic crisis and the strengthening of sanctions against the Burmese military regime. Compounding the picture is the gradual withdrawal of China, less willing to give money to its neighbour, while remaining one of its privileged partners. Exports increased by 12%, touching a 7.6 billion share.

These figures emerge from a statistical compendium prepared by the Burmese Ministry of National Planning and Development. It indicates that over the past 12 months - until March 2010 - Foreign investment in the country registered a loss of 68% from 985 million dollars to the current 315 million. The steep fall is largely due to massive investments made by China between 2008 and 2009: nearly 860 million dollars in mining, 87% of total foreign investment in Myanmar. A factor that was not repeated last year.

Getting current and reliable information on the economy in Burma is not easy. Often, too, the government figures are not considered reliable. Burma Economic Watch, an Australian Association expert on the Burmese economy, reveals that "although it is a major exporter of gas, revenues are almost never recorded in the government budgets " and this indicates that "money is diverted to projects supported by the military leadership".

In the last fiscal year, Myanmar has seen seven new foreign investments, including four in the oil and gas. Three companies of Malaysia and the UAE invested 278.6 million dollars, which amounts to over 88% of total investments. Thailand has spent 15.25 million dollars in hotels and in tourism, China has paid 15 million in mining and Hong Kong six million in the manufacturing industry.

The U.S. and EU, however, are officially pursuing a policy of economic sanctions against Myanmar, to force the Burmese regime to improve the human rights and free opposition leader and Nobel Laureate Aung San Suu Kyi.

Exports have grown to double digit figures, touching 7.6 billion dollars and recorded a 12% increase in March (in 2009 were 6.78 billion). Imports fell by 8% from 4.54% to 4.18 billion. But analysts point to the number of projects in the pipeline in the coming years which will pour billions of dollars into Myanmar’s coffers [the junta]. From 2012, the Shwe dual-pipeline Project - which will transport oil and gas from Burma to the south west coast of China - will ensure a turnover of 30 billion dollars over the next 30 years.

• myanmar
• investment
• export
• import
• yangon
• mining
• oil
• gas
• sanctions
• china