The Myanmar government is pushing laws related to investment, environment and labor standards through a “parliament that’s not well resourced,” Vicky Bowman, director of the Myanmar Centre for Responsible Business based in Yangon, told Inter Press Service (IPS). “A lot of these laws are not being reformed transparently,” she said, noting that the government is essentially experiencing “teething problems.” International investors will confront another troubling fact. Most Burmese companies “keep two sets of books” and are “not sure how much tax to pay,” she said. “Foreign partners are coming in and want to see five years of accounts.” The country, moreover, has long operated in “a strong climate of corruption” that has seen the government awarding projects and real-estate opportunities without a transparent tendering process, she said. In 2013 Transparency International gave Myanmar a score of only 21 out of 100 in its public-sector corruption index, with a low score indicating high levels of wrongdoing. businessmirror.ph/index.php/en/business/asean-economic-community/26320-the-road-to-myanmar-is-inviting-but-potholed
Posted on: Thu, 23 Jan 2014 15:09:37 +0000
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