Myanmar

Myanmar: Myanmar's long-awaited foreign investment bill could be finalised within days, President Thein Sein said as the regime woos overseas businesses to boost its struggling economy. A draft of the much-delayed law was passed by parliament last mth but Thein Sein - who must approve the bill - sent it back for amendments following signs of discord over how far the country should be opened up to outside investors. The previous draft, which would have allowed foreign firms to own a stake of up to 50% stake in JV with local partners, was seen by some as too protectionist. Details of the new draft have not yet been divulged. Myanmar is seen by many investors as the next regional frontier market as businesses eye its huge natural resources, large population and strategic location between China and India. As the West rolls back sanctions to reward the regime for a series of political reforms, corporate giants from Coca-Cola to GE are vying for a share of an expected economic boom.