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Myanmar: Myanmar foreign investment drops as democracy transition brings caution
Myanmar: Myanmar foreign investment drops as democracy transition brings caution
Saturday, 13 August 2016 – Myanmar’s democratic transition instilled caution in investors, with foreign direct investment during the first four months of the government led by democracy champion Aung San Suu Kyi dropping sharply from a year ago, government data show.
Foreign companies invested US$380 million from April to July, the first four months of Myanmar’s fiscal year, plummeting from US$2.6 billion in the corresponding period last year, the Department of Investment and Company Administration (DICA) said.
Businessmen and officials blamed reluctance to commit funds at the time of the biggest political shake-up in more than half a century, a delay in setting up a panel to approve new investments, and a new economic plan missing some details. “I think the changes in the Read More?