Jun 9, 2012

Myanmar: Open for business

As political reforms kick in and foreign investment floods in, we ask if Myanmar could be Asia's next economic tiger.

As political reforms kick in in Myanmar, the country is now open for business and foreign investment is flooding in. But, after decades of political repression and economic isolation, could the country really become Asia's next economic tiger?

Businesses may have to pay attention to ensure that reforms really do happen, but there are already real indications of the country's economic potential.

At the top of the list is Myanmar's proven gas reserves - estimated at 22.5 trillion cubic feet and not nearly fully exploited.

There is a $2.5bn gas pipeline deal, which will supply southern China with energy by next year and which is expected to provide a major boost to Myanmar's export earnings.

And GDP is forecast to hit $124bn by 2020. That is double the current figure.

Al Jazeera's Veronica Pedrosa joins the show after witnessing Aung San Suu Kyi's "arrival on the world stage" at the World Economic Forum on East Asia in Bangkok.

The opposition leader recommended "cautious optimism" when talking about her country at the business forum. But Pedrosa says it is significant that, after being unable to travel for more than 20 years, she chose to attend the forum and "support the cause of her country being a good place to invest".

So, just how much potential does Myanmar have and how will it fit into the regional economic picture?

Source: Aljazeera

 
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