Myanmar to delay law allowing more foreign investment
This will disappoint firms needing cash urgently as doubts about management of the economy multiply
Yangon
MYANMAR will delay a long-awaited reform that would open the door further to foreign investment, two officials told Reuters, a move likely to disappoint cash-starved businesses amid growing doubts about the management of the economy by the country's leader, Aung San Suu Kyi.
The postponement of the corporate reform, which would have allowed foreign companies to take up to a 35 per cent stake in Myanmar companies, will likely deal a fresh blow to investor confidence in Ms Suu Kyi's administration.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations