Myanmar to delay law allowing more foreign investment

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.