Tuesday, February 18, 2014

Myanmar Vice President warns businesses of foreign control

Myanmar’s Vice President Nyan Tun has warned businesses working in joint venture with foreign companies to implement Special Economic Zones (SEZ) not to fall into foreign control.
Nyan Tun said that working together with foreigners will bring more investment, technology and know-how but they must make sure to have a strategy for all obstacles.
He added that SEZs will lower the country’s tax revenue and farmland will be lost as well. Also social issues will occur due to weak management in resettling local residents.
Myanmar is implementing three special economic zones in Dawei, Thilawa and Kyaukpyu with foreign investors from Japan and Thailand.