Myanmar is deliberating on legitimizing permanent residence for
potential foreign investors, service providers, immigrants and
intellectuals since the country' s existing regulations do not allow
dual citizenship, official media reported Thursday.
"Influx of technology, capital, human resources and job opportunities
may flow into the country by practicing the permanent residence system
thereby contributing to the country's development," Myanmar Vice
President U Nyan Tun told a coordination meeting of the system
Wednesday, said the New Light of Myanmar.
"Favorable investment climate effectively protecting the rights of
investors must be created to attract the influx of foreign investment,"
Nyan Tun stressed, calling for enactment of a permanent residence
immigration act and formation of a scrutiny supervisory committee for
the residence grant.
"The economic landscape has changed along with the change in the
political landscape. Now is time when financial capital, technology and
intellectual capital are urgently needed in bringing about
people-centered development in agricultural, industrial, commercial,
financial and monetary sectors for socioeconomic development of
citizens," he said.
Since Myanmar's new government took office in March 2011, political
process has been changed from authoritarian governance to democratic
governance. The government has granted amnesty to prisoners, allowing
exiled political elements to re-enter the country with dignity,
abolishing censorship for the media and free access to internet,
allowing the establishment of labor and employers unions and freedom of
participation in political process for people.
Meanwhile, an amended foreign investment bill is being finalized in the parliament and is expected to be promulgated soonest.
Source: Xinhua
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