Rift in Myanmar over draft investment law

--
IFRAME:
ers.com%2Farticle%2F2012%2F08%2F29%2Fmyanmar-politics-investment-idINL4
E8JS33220120829&layout=standard&show_faces=false&width=450&action=recom
--
[123]* President worried restrictions will hurt economy - sources *
Draft law limits foreign investment in 13 sectors * Myanmar tycoons
seen benefiting from changes By Martin Petty and Aung Hla Tun YANGON,
--

* Draft law limits foreign investment in 13 sectors

--
YANGON, Aug 29 (Reuters) - Protectionist clauses introduced by
Myanmar's parliament to a long-awaited foreign investment law have
sparked concern the legislation will scare off foreign companies and
--
Two sources with direct knowledge of the law say President Thein Sein
wants to make it attractive to foreign investors and his office has
been working behind the scenes to convince lawmakers to ease
--

The law, crucial to foreign investment in one of Asia's last frontier
markets, has been stuck in Myanmar's bicameral parliament for five
--
barriers for foreign joint ventures in 13 restricted sectors could
ultimately force some foreign firms to reconsider investing in Myanmar,
say officials with ties to the president.
--
and political reforms, many foreign businesses have held off committing
to investments despite praising Myanmar's potential in sectors from
tourism to timber, oil and gas.
--
The overhaul of the law puts restrictions on 13 sectors, limiting
foreign firms to a maximum 49 percent investment. The restricted
sectors include manufacturing, farming, agriculture and fisheries.
--

The investment law is one of the biggest pieces of legislation handled
by a parliament that has become increasingly vocal under the leadership
--
Changes to the draft legislation, which initially allowed 100 percent
investments by foreigners in any sector, followed a June 30 meeting in
Yangon between Shwe Mann and Myanmar businessmen who urged an immediate
--
IFRAME:
ers.com%2Farticle%2F2012%2F08%2F29%2Fmyanmar-politics-investment-idINL4
E8JS33220120829&layout=standard&show_faces=false&width=450&action=recom
--
* [171]About Thomson Reuters
* [172]Investor Relations
* [173]Careers
--
[175]Thomson Reuters is the world's largest international multimedia
news agency, providing [176]investing news, [177]world news,
[178]business news, [179]technology news, headline news, small business