Foreigners will no longer need a local partner to set up businesses in Myanmar and may be granted a five-year tax holiday from the start of commercial operations, according to the draft of a new investment law obtained by Reuters.

This is a very big step ahead.  Together with reform of the FX law, this moves things dramatically. One of the big economic issues still not clear, and which should be part of the discussion regarding the lifting of sanctions, is whether the military and those who have worked closely with them during the sanctions regime end up grabbing commercial licences–either directly or indirectly.

Source: Reuters