Myanmar

With Myanmar taking its place as chair of ASEAN in 2014, a remarkable period of progress in the country’s foreign relations is being acknowledged – both by Myanmar’s neighbours and by the wider world. Now, the country’s diplomats will have to help steer the 10-nation group through some challenging times in the run up to the establishment of the...

On July 11, 2013 Myanmar’s President U Thein Sein signed the long-awaited Central Bank of Myanmar (CBM) Law, which will separate the central bank from the Ministry of Finance and Revenue, securing its autonomy and clearly delineating its responsibilities. The move is a key building block in the country’s series of recent reforms and aims to...

In the past two years Myanmar’s local banks have begun to feel the pull of internationalisation as foreign firms appear in the country to offer their services. Potential joint venture partners, technology retailers, payment system providers and a wide selection of other products are now at their fingertips. Yet while advancements are definitely...

In March 2011, President U Thein Sein shocked the world in his inaugural speech by taking a new tack for Myanmar’s development, speaking of the need to “open doors, make reforms and invite investments as necessary for development of the nation and the people”. He stated clearly that Myanmar aims to “attract foreign investments” as part of a...

However, the Foreign Investment Law passed in 2012 has a similar package of incentives, which apply to any foreign investment in Myanmar, thereby effectively nullifying some of the advantages of locating in an SEZ.

The “Golden Land”, officially known as the Republic of the Union of Myanmar and formerly as Burma, has undergone dramatic reforms in recent years under the administration of President U Thein Sein. The rapid transition from a military junta to an open economy has surprised the global community, and will see Myanmar assume the ASEAN chair for the...