Myanmar has announced the winners of the country’s first foreign bank licences: nine in total have been awarded to three banks from Japan, two from Singapore, and one each from China, Thailand, Malaysia and Australia. We cheer the process as critical to the modernisation of the country’s nascent banking industry, but remind observers that this is only an initial step – the Myanmar banking sector lags far behind even that of Cambodia, and the rights of the foreign banks will be significantly limited.01 Oct
02 Oct 2014
Vietnam is currently undergoing a major infrastructure build-out as it overcomes a recent downturn. However, a prolonged spat with China is threatening the financing of this build-out.