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  • Myanmar Passes Foreign Investment Law 3 comments
    Sep 7, 2012 10:44 PM

    Events continue to progress rapidly in Myanmar. The parliament passed a foreign investment law today. Although some criticized the fact that it does not go far enough this is definitely serious continued rapid progress. This time last year you could not even invest in the country. Remember one of my contentions is that relatively small political or economic changes at the margin can lead tom big increases in GDP.

    ADP:

    Myanmar's parliament on Friday passed an eagerly awaited new law aimed at boosting foreign investment in the former pariah state, which is emerging from decades of military rule.

    The move comes as global corporate giants from Coca-Cola to General Electric jockey for a share of an expected economic boom in the impoverished but resource-rich nation, which is opening up after a long period of isolation.

    The investment law, which allows foreign firms to own up to a 50-percent stake in joint ventures with local partners, is aimed at regulating the growing interest from overseas as the international community begins dismantling sanctions.

    It still needs to be approved by President Thein Sein, who could send the legislation back to parliament for further changes.

    Observers said the law was not yet a done deal and the former general could push lawmakers to come up with a more liberal text.

    One of the major complaints of businesses eager to enter the country formerly known as Burma is the lack of a clear legal framework.

    "The law is likely to give confidence to foreign investors, but it is part of a long process to reform the legal framework of investment," said Romain Caillaud, who heads the Yangon office of business advisory firm Vriens and Partners.

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Comments (3)
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  • Jon Springer
    , contributor
    Comments (4073) | Send Message
     
    Thanks John. Look forward to the further twists and turns along the way. Wish I had some spare change to build a rice mill in Dawei.
    7 Sep 2012, 10:59 PM Reply Like
  • Schumpeter_1
    , contributor
    Comments (239) | Send Message
     
    John,

     

    There are more positive developments to Myanmar this week. Airlines also start flying in.

     

    http://on.ft.com/R2fJHc
    14 Sep 2012, 03:43 AM Reply Like
  • John Polomny
    , contributor
    Comments (585) | Send Message
     
    Author’s reply » Also good boots on the ground info from Capitalist Exploits:

     

    http://bit.ly/QolFLT
    14 Sep 2012, 07:43 AM Reply Like
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