More than a year ago, the government and Daiwa Securities Co. of Japan began working together to establish a formal exchange. This could happen within the next six months, says Martin Pun, CEO of Serge Pun Associates and a consultant to Daiwa. A full-fledged bourse could be up and running within six years. In short, it could be a nimble investor's land of opportunity. But its economic take-off will be faster because they have Asian models to emulate.
Foreigners can wholly own certain businesses in Myanmar.
But if a company needs a local partner, most get better initial results if that partner is connected to the government. The financial sector also remains closed to foreigners. The generals, one Yangon resident says, can set their own agenda, and the command economy is still very much the order of the day. Meanwhile, the black market remains huge and flourishing. The biggest drag on growth, and perhaps investor confidence, may be Myanmar's grossly overvalued kyat.