Investors from Singapore and Vietnam topped the list of foreign backers in the National League for Democracy’s year in government, according to statistics of foreign investment from the Directorate of Investment and Companies Administration (DICA).
Foreign investment totalled US$6.65 billion in the 2016-17 fiscal year.
The country exports rice mainly to China and various African countries, according to the Myanmar Rice Federation.
Ye Min Aung, general secretary of the federation, said: “Chinese and African markets are major. We also export to the Philippines, Indonesia and Sri Lanka. We can’t rely on one or two markets. But 50 per cent of the exported rice goes to China.”
THOUGH THE TAXI-HAILING service is still a relatively new concept in Myanmar, Grab, the leading ride-hailing firm in Southeast Asia, has revealed its ambitious target of attracting everyday taxi users in Yangon to book taxis through their app.