Myanmar's economy grows more than 6 per cent
Myanmar's economy grew 6.3 per cent in the fiscal year that ended March 31, compared with 5 per cent the previous year, the Asian Development Bank said Tuesday.
It said the growth "reflects business optimism buoyed by the government's steps since 2011 to liberalize the eoconmy and prospects for further reform." Investor optimism was reflected by a 14-fold increase in the number of new foreign company registrations in the first 10 months of fiscal 2012.
The government granted investment approvals to 62 foreign projects in the April-December period, more than the number granted during the previous three years.
Revenues from tourism exceeded 500 million dollars in 2012, up more than 60 per cent compared with the previous year, ADB said.//DPA
