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Beijing (AFP) - As China approaches becoming a net capital exporter, analysts have blamed investors' inexperience and decisions driven by government policy rather than business sense as the cause of a series of ‘Overseas Direct Investment’ project failures, including the controversial Myitsone hydropower plant in Myanmar, reports the AFP.

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Thilawa-Special-Economic-Zone-Thanlyin-Kyauktan-region-8
 Early days for Thilawa Special Economic Zone. Preparation work at the site in Thanlyin Township, south of Yangon. Photo: Mizzima

Foreign insurance companies can start operating in Thilawa Special Economic Zone during its first phase beginning in January 2015, Deputy Finance Minister Dr Maung Maung Thein told reporters at the Yangon-based state-owned Myanma Insurance office on November 16.

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Nay Pyi Taw - Japanese Prime Minister Shinzo Abe and Myanmar President U Thein Sein agreed to work together in the implementation of seven areas of development including Myanmar’s deep sea port project during a meeting after the ASEAN Summit held in Nay Pyi Taw on November 12.

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Foreign investment in Myanmar for the first 10 months of the year up until October stood at over US$50 billion, comprised of 29 companies from 11 countries, according to a press release of the Directorate of Investment and Companies Administration on November 11.

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President U Thein Sein used the ASEAN Business and Investment Summit to call on his fellow ASEAN leaders to emphasise the development of small and medium enterprise to narrow development gaps and alleviate poverty in their countries.

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US-based Boeing and the Myanmar-based privately-owned Air Mandalay signed a memorandum of collaboration to support Air Mandalay’s fleet renewal efforts on November 8.