By Pamela Koh | Posted: 28 March 2012 2109 hrs
SINGAPORE: Telecoms, real estate and energy may be at the forefront of new investments in Myanmar, after the government clears a sweeping economic reform bill.
Ahead of by-elections this weekend, the Myanmar government is already erecting key pillars of its economic transformation.
Currency reform, crucial to Myanmar's internationalisation, is being fast-tracked.
Myanmar will overhaul its complex exchange rate system to allow a managed flotation of its currency from April 1, Myanmar state media announced.
The Myanmar government has also earmarked energy as a target for new foreign investment.
It plans to award nine onshore oil & gas blocks to seven foreign companies and their domestic partners.
In the telecoms sector, four to five new licenses will be issued to foreign network operators in the next six to 12 months.
Among Myanmar's population of 60 million, there are only 2.5 million mobile and 1.5 million fixed-line customers.
This represents one of the last untapped telecoms markets in the world.
While Myanmar's untapped potential is the subject of much optimism right now, the race among foreign firms to turn that potential into profit, will be just as closely watched.
- CNA/wk
Link : http://www.channelnewsasia.com/stories/economicnews/view/1191814/1/.html
No comments:
Post a Comment