File photo: The construction site of the gas pipe along China-Myanmar border

China is still the biggest foreign investor in Myanmar with over US$15 billion of foreign direct investment (FDI) in 126 projects from 1985 to 2015, according to a report released by Directorate of Investment and Company Administration (DICA).

Singapore comes second with over US$12 billion of FDI in 199 projects in the same period. Due to sanctions imposed on Myanmar by Singapore, the latter often acts as conduit for investors such as the U.S.A.

The EU ranks third with nearly US$6 billion.