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Myanmar's Path to Prosperity Strewn With Obstacles

Friday, June 8, 2012

Following the United States’ restoration of diplomatic relations with Myanmar and the European Union’s relaxation of economic sanctions targeting Naypyidaw earlier this year, international investors have lined up to discuss opportunities for future investment in the resource-rich country, which boasts the world’s 10th-largest natural gas reserves. However, substantial hurdles must be overcome if Myanmar is to join the ranks of Indonesia, Singapore, Malaysia, Thailand and South Korea as the next Asian tiger economy.

In an address at the World Economic Forum in Bangkok earlier this month, Myanmarese opposition leader Aung San Suu Kyi raised a red flag for potential investors when she called for “healthy skepticism” regarding Myanmar’s readiness to provide a stable judicial and regulatory environment for business. Her warning represents a stark contrast to the overwhelming optimism coming from regional analysts such as the Asian Development Bank. ...

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