By Yuri Vanetik
Here is an interesting article I ran across on the Wall Street Journal. I hope this a beginning for Myanmar.
By JAMES HOOKWAY
Myanmar’s Parliament passed a long-anticipated law that lays the ground rules for global companies planning to move into the country’s long-restricted market—legislation that dropped several provision that would have deterred foreign investment but still fell short of what many businesses had hoped to see.
Investors are now waiting to see whether Myanmar’s president will sign the legislation into law, or pass it back to lawmakers when they meet next in October to induce more investment into what is still one of Asia’s most isolated economies.
Full details of the draft law haven’t been announced. But according to highlights of it provided by government officials, the version approved Friday would let foreigners own half or more of some joint ventures and invest in a wider range of businesses than outlined in previous drafts.
It appears to mark a middle ground between a draft offered by a camp pushing for rapid change—led by President Thein Sein—a vision offered byconservative legislators and local business leaders who have worried that opening the country too aggressively would let foreign firms dominate the economy.
The legislation drops a number of apparently restrictive provisions floated by lawmakers. One proposal had required a minimum investment of $5 million, which some analysts said would restrict joint-venture investors to dealing only with the country’s largest and, possibly, most politically connected firms, including potentially some with ties to Myanmar’s former harsh military regime. Continue reading
By Yuri Vanetik
Earlier this month, in a rare moment of genuinely bipartisan lawmaking, the president signed into law the JOBS Act. Short for “Jumpstart Our Business Startups,” JOBS will roll back some of the regulatory barriers that small and mid-sized entrepreneurial ventures face in their efforts to grow and go public.
This is a great victory for the American start-up community. But there’s still so much more to be done. America’s start-ups are still the most vibrant and innovative in the world. Yet, they have been falling short of reaching their full potential. The JOBS Act dealt with the regulatory hurdles entrepreneurs hit when expanding; now, policymakers need to turn their attention to the hurdles in the way of talent acquisition. Continue reading