[Myanmar] Burma Parliament Loosens Foreign Investment Rules

Burma’s Parliament on Monday passed additional regulations for the Foreign Direct Investment Law that will open up 20 percent of ownership in certain business sectors, Radio Free Asia reports. The FDI Law, which was approved in November, restricted or prohibited foreign investment in a range of sectors, such as agriculture, livestock, fisheries and manufacturing and services “which can be carried out by the citizens,†while also limiting foreign investment in sectors that could affect the natural environment and public health. The Union Parliament voted in favor of rules that would allow 20 percent foreign ownership in a firm in these sectors, if a Burmese citizen owns the remaining 80 percent.