Burma Investors Pin Hopes on Seminal Sunday
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Burma Investors Pin Hopes on Seminal Sunday

By CHARLIE CAMPBELL / THE IRRAWADDY Wednesday, March 28, 2012

Cashiers behind piles of kyat banknotes in a private bank in Rangoon. (Photo: Reuters)
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Negotiations with commercial facilitators such as Visa are also underway, said Than Lwin.

Although Burma remains subjected to Western sanctions, many analysts believe that the obvious investment opportunities have governments chomping at the bit to liberalize these restrictive measures.

“If Suu Kyi and the democratic opposition basically give their blessing that the April 1 elections are 'good enough,' there will be some sort of positive, reciprocal action on the part of the US government,” Jennifer Quigley, of the US Campaign for Burma, told 7 Days Middle East.

But with the European Union putting its sanctions against Burma up for review on April 23, American investors are worried that their Asian and European counterparts could have the leap on them. This is especially important when considering Washington's desire to stave off competition from Beijing in Southeast Asia.

Singapore-based Tradelink Engineering and Trading (TET) is hoping to construct two to three new factories over the next couple of years.

“After the foreign investment law, there may be so many companies—maybe 10 or 20 companies—[competing] in the Myanmar market,” TET Managing Director San Yu Hlaing told Channel News Asia on Wednesday.

The new investment legislation being proposed could potentially have saved TET 15 percent—US $1.5 million—on the import duty it paid last year, he added.

However, there is still that wary element of caution even among Burmese finance insiders—more than a dozen banks were nationalized in 1963 when junta generals seized control of most major industries.

“It will be in the interests of foreigners to wait for the final touches on these [investment] laws [before investing in Burma],” said Than Lwin.

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Oo Maung Gyi Wrote:
Kan Baw Za bank belongs to a cronies of Burmese ex-general Maung Aye and a US sanction. How can you trust them, this bank will work for the betterment of majority Burmese peoples? KANBAW ZA BANK BOUGHT AIRCRAFTS FROM FRANCE and presently using by MAI under lease and its belong to equity share 80% forKBZ Bank and 20% fro Myanma Airways Enterprise ( Previous name UBA.)Now all cronies are monoplize the business also trying to do more under new government of Thein Sein.

Myanmar Patriots Wrote:
"And sweeping new laws— including tax breaks of up to five years, the right to lease real estate from the state or private hands for up to 30 years, allowing 100 percent repatriation of profits, and the right to distribute products locally—are expected to be passed by the Burmese Parliament in the coming months."
Our King HM King Schwebomin II's MBA dissertation in 1983 was about Mulitnationals and third world Economies.
The above issues and other related ones were thoroughly discussed.
What a pity. Still groping in the dark instead of bringing back the righteous one.
Will Irrawaddy censor this?

Unbelievable. So much for freedom of speech and expression.

Moe Aung Wrote:
The clamor to enter Burma's emerging markets is just a tad reminiscent of the clamor by the Rangoon European business class in 1885 to annex Thibaw's Kingdom of Ava. A feeding frenzy in the making even if it's quite a bit tardy by our Asian neighbors' standards. Better late than never, eh?

No need to convince people that there is political will from the govt when it comes to touting for business. More shed loads of greenbacks coming their way...ker-ching! More billionaires to join Tayza while hotels, tourism and the sex trade as well as world class sweat shops boom. Happy days are here again. Thank goodness for exploitation!

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