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SE Asia
 

Myanmar leader stalls investment law: Govt official

Published on Sep 24, 2012 4:49 PM
 
Myanmar President Thein Sein and ministers wait for United Nations Secretary-General Ban Ki-moon before their meeting at the Presidential Palace in Naypyitaw, in this April 30, 2012 file picture. Myanmar's president has delayed an eagerly awaited foreign investment bill, an official said on Monday, asking for amendments to the law that aims to open up the long-isolated nation to overseas trade. -- PHOTO: REUTERS

YANGON (AFP) - Myanmar's president has delayed an eagerly awaited foreign investment bill, an official said on Monday, asking for amendments to the law that aims to open up the long-isolated nation to overseas trade.

Mr Thein Sein returned the draft law to parliament at the weekend "with remarks", according to Mr Zaw Htay in the Presidential office.

"The president wanted to amend some of the provisions in the bill, which was approved by the Parliament," he told AFP.

Myanmar is seen by many investors as the next regional frontier market as businesses eye its huge natural resources, large population and strategic location between China and India.

 
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