"Internal debate over a pending new foreign investment law has exposed divisions between reformers and conservatives in Myanmar. How the power struggle shakes out will determine in large measure the direction and pace of the country?s closely watched economic reform program. Big multinational corporations, including Coca-Cola, Ford Motor Company and General Electric, have expressed initial interest in Myanmar, a market American companies were until recently banned from entering due to US government imposed economic sanctions. Even with that ban lifted, companies have remained wary about committing funds without stronger legal protection of their investments. In line with his broad reform agenda, President Thein Sein announced plans for a more liberal investment regime in late 2011. Since then the law to regulate new foreign investment has undergone several rewrites and heated debate in parliament. The new law is designed to replace the extant and outdated 1988 investment law. A first draft of the law was sent to parliament in March but was rejected by conservative parliamentarians - some with known links to the business associates of former junta leaders - as overly advantageous to foreign interests. Although full details of the legislation have not yet been made public, earlier drafts reportedly included several restrictions on foreign capital, including bans on foreign investment in as many as 13 sectors..."