Myanmar's military rulers have approved new investment in projects worth nearly US$2.8 billion. - AFP
YANGON (Reuters): Myanmar's military rulers have approved new investment in projects worth nearly US$2.8 billion, including a liquefied natural gas (LNG) power plant that will cost $2.5 billion, the country's investment body said.
Approvals for 15 projects were given on Friday (May 7) by the Myanmar Investment Commission, according to a statement on the website of the Directorate of Investment and Company Administration.
The announcement comes with much of Myanmar's economy paralysed by protests and strikes since the army seized power on Feb 1. International credit rating agency Fitch Solutions has forecast the economy will contract by 20 per cent this year.