Myanmar in renewed push to attract foreign investment in post-sanctions era
Myanmar in renewed push to attract foreign investment in post-sanctions era
On 7 October 2016, U.S. President Barack Obama signed Executive Order 13742 headed “Termination of Emergency with Respect to the Actions and Policies of the Government of Burma” (E.O. 13742). E.O. 13742 revoked all previously un-repealed measures which had formed part of the U.S.’s sanctions regime against Myanmar. The repeal of sanctions represented the culmination in a period of rapprochement between the U.S. and Myanmar which began in 2010 when Myanmar’s military Government initiated political and social reforms and take the first steps towards democracy. The removal of sanctions is expected to lead to renewed interest in foreign direct investment in Myanmar. To date, investors in Myanmar have had to undertake extensive research into prospective investments in Myanmar to ensure they would not be in violation of U.S. law. Read more…