Myanmar announced a new foreign investment law in November 2012 in a bid to attract foreign investment to the country in line with its reform strategy. This seems to have worked wonders for Myanmar, as it received $4.107 billion foreign investment in the fiscal year 2013-14, up from $1.4 billion in 2012- 13.The sectors which attracted foreign investment covered manufacturing, energy, oil and gas, mining, hotels and tourism, real estate, livestock, fishery and agriculture. AungNaingOo, chief of the Directorate of Investment and Companies Administration, said 50 percent of the investment this year went into the manufacturing sector and 20 percent in telecommunications. The Asian Development Bank projects Myanmar’s economic growth to reach 7.8% in FY2014 and FY2015, the strongest performance in Southeast Asia, estimated based on the combination of robust trade and strong FDI growth.