Mar. 28 – The Myanmar government is introducing a new set of regulations expected to promote foreign direct investment into the country. Coupled with the lifting of U.S. sanctions on the existing regime, this move may well spell the beginning of a new chapter in the nation’s development. Long a pariah state and run until recently as an oppressive military dictatorship, a shift in domestic policy appears to be opening up the country to reform.
New regulations are set to be introduced as early as next month, taking the shape of tax holidays, simplifying foreign exchange, liberalizing the banking sector and reforming the areas of investment available for foreign participation.