According to Chinese news agency Xinhua, approval of the new law – which has been progressing for a number of weeks – is designed to promote private sector investment in the country and boost capacity.
Qatari operator Ooredoo and Norway’s Telenor won two lucrative licences to launch mobile services in the country, and the law will allow the companies to officially accept the right to operate under the licences for periods of between five and 20 years.
Myanmar’s parliament has also approved a plan to accept a $261.5 million loan from the World Bank in a bid to develop the country’s communications infrastructure, in addition to other projects.
The loan will have a term of 40 years, and is the first loan offered by the World Bank to the country since the bank announced in January that it would clear $900 million in outstanding debt owed by Myanmar.
This paved the way for the country to be eligible for new grants and loans from other international institutions.
Watch out for Capacity’s cover story on Myanmar in the upcoming August/September issue.
Capacity will hold its first conference dedicated to Myanmar's market in Nay Pyi Taw, from 10-11 September this year.
