Parliament Approves Telecoms Bill
28 August 2013
Burma’s Union Parliament voted on Tuesday to approve a bill to promote the country’s telecommunication sector, China’s Xinhua news agency reports. The new law calls for private-sector investment to boost Burma’s telecoms capacity and allows foreign telecom companies to operate in the country under license for periods of between five and 20 years. Meanwhile, DVB reports that the Union Parliament also approved a plan to accept a US $261.5 million loan from the World Bank to develop Burma’s communications infrastructure and other projects. The 40-year loan is the first from the World Bank since it announced in January that would clear around $900 million in outstanding debt owed by Burma, making it eligible for new grants and loans from international institutions.