BUSINESS – Singapore leads investment in new tax year

Singapore has invested over US$1.4 billion as of the beginning of the tax year on 1 April, the largest amount by any country, with the Netherlands being the second largest investor with $430.45 million. Singapore has a high stake in the tourist industry, with forty percent of hotels owned by Singaporeans, according to Burmese state-run Global New Light of Myanmar. During April 11 countries invested a total $2.2 billion in the Burmese economy.