Foreign investors await approval to form first joint ventures

There are currently a number of representative offices of foreign companies in the country. So far, Japan’s Mitsui Sumitomo and Sompo Insurance have applied for approval to sell their products via joint ventures with Myanma Insurance, the only licenced insurer in the market. However, the country’s regulator appears to be in no hurry to process their applications

Myanmar is a country rich in natural resources, its population is educated and it has vast potential for economic growth. Development of the insurance industry is dependent on a stable political and economic environment.