Domestic banks have been slow to act on a reform allowing equity injections of up to 35 percent by foreign banks, with some citing continued confusion over the rules.
The government evinced high hopes for a rebound in foreign investment at a recent event in Nay Pyi Taw but its expectations are not shared by many in the private sector.
More than 700 workers have been left jobless after the closure of a Yangon shoe factory that had defied an order to reinstate a sacked workplace labour union member.
Support more independent journalism like this.
