Myanmar’s Parliament last week passed the country’s long-awaited foreign investment law. Here’s why counsel expect the latest draft to work
The foreign investment law has been highly anticipated by investors since Myanmar signaled its opening earlier this year. Investors hope that the law will give indications of Myanmar’s readiness for foreign investment.
But - while a few key points have been released - the full text of the law remains under wraps. Moreover the law is not finalised: it has been sent to President Thein Sein, who could send it back to Parliament for its October session.
Regardless sources are hopeful the latest draft of the law will be workable. “It depends on which industry you’re in, but as a whole it’s encouraging,” said Thura Soe-Paing, managing director of All Myanmar...