Foreign investment drives Myanmar growth
Once considered the gem of South East Asia, Myanmar’s economy is regaining its lustre.
Published On 26 Dec 2013
Myanmar is experiencing a surge of economic growth. Foreign investors are flocking to the southeast Asian nation after being denied entry during years of sanctions under military rule.
Foreign direct investment is up by 42 percent in a year. The World Bank forecasts the economy will grow by 6.8 percent in the next financial year.
But it’s had an impact on inflation, which rose to 7.3 percent in August.
Al Jazeera’s Florence Looi reports from the commercial hub Yangon.
Source: Al Jazeera