During the ongoing Lower House Parliament session, Deputy Minister of National Planning and Economic Development Dr. Daw Khin San Yi said that the country received a total of $34.2 billion worth of foreign investment during the last 25 years. This amount came from at least 25 countries and different regions, and was used in 381 projects of 11 sectors. With the investment, more than 300,000 job opportunities were provided for Myanmar citizens at the end of 2013. A year after it reopened, Myanmar introduced a foreign investment policy in late 2012 which replaced the 1988 law to help attract more foreign investment. The new law enables foreigners to have full ownership of their businesses in Myanmar, or to facilitate joint venture operations with Myanmar on a mutually-agreed ratio of investment. While these premises are very appealing, local economists say that the continually rising prices of real estate could pose as a problem for interested foreign investors.
As per the International Monetary Fund (IMF)’s Myanmar Economic Indicators, the country’s gross domestic product (GDP) grew by 5.5 percent in 2013 with consumer price rise reaching 7.3 percent. It is projected that Myanmar’s GDP will rise by 6.2 percent in 2014, with 6.6 percent consumer price inflation.