Myanmar absorbed a contracted foreign investment of 13.917 billion U.S. dollars in 402 projects up to now, Minister of National Planning and Economic Development U Soe Tha told a press briefing in Nay Pyi Taw on Sunday.

The contracted investment mainly came from the Association of Southeast Asian Nations (ASEAN) countries with 71.4 percent, followed by European Union countries with 17.2 percent, other Asian countries with 8.3 percent, and others with 3.1 percent, he said.

In Myanmar's foreign direct investment (FDI), the electric power sector accounted for the most investment with 6.03 billion dollars in one project which was invested by Thai in the 7,110- megawatt Ta Sang hydropower project on the Thanlwin River in southern part of Shan state and is expected to complete in six years.

The oil and gas sector stands as the second most one in the country's FDI with 2.736 billion US dollars in 74 projects, followed by the manufacturing with 1.61 billion dollars in 152 projects, the hotels and tourism with 1.056 billion dollars in 19 projects, the real estate with 1.034 billion dollars in 43 projects, the transport and communication with 534 million dollars in 58 projects.

Myanmar enacted the FDI Law in late 1988 when it started to adopt a market-oriented economic policy.