Myanmar a reluctant Asian Tiger? – DPA, August 31, 2012
…Recent amendments to a proposed foreign investment law in the Lower House included requirements and prohibitions that threaten to scare away many companies from the reforming country, according to economists and some senior government officials.
“I have watched this law become less and less liberal, less and less open, with each draft,” said Sean Turnell, economics professor at Australia’s Macquarie University and a Myanmar specialist. “The new law is fast becoming the ‘No Foreign Investment Law.’”
Among the amendments are a $5-million (Dh18.3 million) minimum requirement on foreign investments, a 49-per-cent maximum for foreign equity in joint ventures and the outright exclusion of foreigners in several key sectors such as distribution and agriculture…