Monday, March 26, 2012

Myanmar (Yoma/Interra/Sin Heng)

Myanmar (Yoma/Interra/Sin Heng): A raft of new investment laws are expected to make Myanmar draw more foreign interest if sanctions are lifted in the coming year. But the overhaul leaves some problems unresolved and might stoke new ones.

A plan to give tax holidays and other incentives to foreigners is expected to be approved as early as this week, ahead of a closely watched April 1 parliamentary by-election. That vote could put democracy icon Aung San Suu Kyi into elected office for the first time. Other major changes in the works include plans to simplify the unwieldy FX system, give more independence to the central bank and open the economy to foreign phone cos and banks.

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