Catching the wave
Article Abstract:
Burma's 1988 shift from socialism to capitalism has yet to match the success of other countries but the military govt continues to liberalize the economy and expects accelerating growth. Burma is still the poorest country in SE Asia, at $300 per capita annual income, and many foreign businesses remain leery of the repressive govt. Others, however, are eager for access to low-wage workers and valuable natural resources. Nearly $1 billion in foreign investment has been approved for the gas/oil and hotel/tourism sectors alone.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Listening post: foreign banks are gambling on Burma
Article Abstract:
Foreign banks are opening representative offices in Rangoon, Burma but cannot conduct business. The 14 that have received permission thus far are trying to develop relationships and establish a presence with an eye to future financial activity. Burma's rulers have granted 23 banks licenses for the offices. Foreign banks will need to establish joint ventures before they are able to open their own branch offices. Other problems include local distrust of banks and a discouragingly low official exchange rate.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Carrot and chain: Thailand liberalizes and restricts at the same time
Article Abstract:
Thailand's efforts to balance banking reform with appropriate regulation annoy some foreign bankers but will create a more open and possibly more stable market. On Oct 1, 1995 the 21 foreign banks with offices in the Bangkok Intl Banking Facility were formally invited to apply for seven grants of full branch status and the right to offer all retail banking services. At the same time, the central bank is blaming foreign banks for excessive lending contributing to 6.2% inflation, above the 5.2% target.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
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