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10. Myanmar

FDI 2004-2010: $1.6 billion

Myanmar, with vast oil and gas reserves as well as mineral deposits, has been a big draw for Chinese companies. China is the top investor in the country once known as Burma, and is its second-biggest trading partner.

China’s foreign direct investment jumped since 2008. It grew more than 2 1/2 times from $92 million in 2007 to $233 million in 2008 before accelerating to $377 million in 2009 and then $876 million in 2010.

But the recent easing of sanctions against Myanmar by the U.S., European Union, Japan, Canada and Australia could prove to be stiff competition for China,which has invested in everything from infrastructure and hydropower dams to twin oil and gas pipelines to help feed southern China’s growing energy needs. China’s top three oil firms — CNPC, Sinopec Groupand CNOOC— all operate in Myanmar, and China has pledged an additional investment of more than $14 billion in the 2010-2011 fiscal year.

According to Myanmar government figures, about 47 percent of total foreign investment in the country went to power generation, while 34 percent went toward oil and gas — Myanmar’s biggest export.

Pictured: Sagaing, Myanmar

Photo: Jim Simmen | Getty Images