Burma, now known as Myanmar, launched its first public gold company with the stated aim of protecting small- and medium-size enterprises against foreign competition.
The new company, Myanmar Gold Development, is formed ahead of a key foreign direct investment meet. Myanmar Gold Development will emphasize seeking investment from Myanmar citizens and will cooperate with other associations and organizations under current laws.
According to Myanmar Gold Development, SMEs could be wiped out if wholly foreign-owned firms were allowed to operate in Myanmar and if the amended Foreign Investment Law, which is currently being debated in parliament, were enacted. . .View Full Article