George Soros, who sat beside Soe Thane during a panel discussion, said that 20 years after establishing an office for his Open Society Foundation in Myanmar, he had stuck it out. The reforms process had been a wonderful experience, up until about half a year ago, he said. Things have come to a standstill because the elections are now casting a shadow on the activities. I hope it will restart after the elections, because it does need to be restarted, Soros said. There is still a land grab under say, said the billionaire investor, and American companies need to be careful about the provenance of titles on properties in order not to fall afoul of OFAC. He also expressed concern about the racial tensions that have flared up, with anti-Muslim violence leaving hundreds dead since 2012. However, Soros said he believes multinational corporations cannot ignore Myanmar, where the government expects foreign direct investment will grow to more than $5 billion in the fiscal year starting in April. Soros has invested several million dollars through businesses run by Serge Pun, chairman of the SPA Group, he said, but not directly. We would be eager to do it in the areas of banking, finance and agriculture. This is where we feel the country, the people, need this investment most, Soros said. . in.reuters/article/2014/09/24/myanmar-investment-idINKCN0HJ2J320140924
Posted on: Fri, 26 Sep 2014 04:01:44 +0000
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