Investments have increased fivefold: Thein Sein

Myanmar President Thein Sein announced on Sunday that the number of local and foreign investments has increased fivefold between 2011-212 and 2012-2013.

Speaking at the Mandalay Region rural development and socioeconomic improvement discussion, he said there was US$1.4 billion of foreign investment across 94 industries, and more than 1.1 trillion kyat ($1.2 billion) of local investment in 65 industries, according to a report in state-run newspaper The New Light of Myanmar.

The president also called for more microfinance projects and for the promotion of cooperatives within communities to bring benefits to the poor, according to the state-run newspaper.

Source: Mizzima

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