TOKYO (AFP) - Japanese mobile carrier KDDI says it is planning to link up with trading house Sumitomo in a deal to invest about US$2.0 billion in developing wireless networks in Myanmar.
While local banks may open as many branches as they like, foreign banks entering the market will be initially restricted to one branch if they operate solely as ‘Foreign Direct Investment’ operations, the Myanmar Central Bank has said.
|Myanmar's foreign investment law controversially requires foreign companies to invest a minimum of five million dollars. Economists and some officials have previously criticised the minimum as likely to scare away the small and medium-sized companies that the country desperately needs to create jobs. Photo: EPA/LYNN BO BO|
Myanmar’s Directorate of Investment and Company Administration has granted 10 more foreign investors to trade in Myanmar.
A stock exchange must be established to help protect ignorant investors, Deputy Finance Minister Dr Maung Maung Thein said in the Amyotha Hluttaw on June.
Japanese investors are worried about labour shortages at the Thilawa Special Economic Zone, a senior official with the Japan External Trade Organisation said at the Sedona Hotel on March 18 after a forum aimed at promoting investment in the SEZ.