Myanmar recently passed a new companies law in the hopes that it will attract increased investment from Thai businesses in the coming years.

The legislation comes after massive drops in investments from Thailand into the Burmese economy in recent years.

Burmese officials point out that the revamped companies law will replace the century-old replaced legislation that stifled foreign investment in the Southeast Asian country.

Now, foreign companies will be encouraged to invest in Myanmar’s economic future and will face significantly less hurdles to do so.

Myanmar hopes to attract Thai investors in a wide variety of industries, including solar, natural gas, and manufacturing.

Thailand makes up for 14.5% of foreign investments in Myanmar, trailing only China and Singapore.

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