The Report: Myanmar 2014

Download or read book The Report: Myanmar 2014 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2014-03-03 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “Golden Land”, officially known as the Republic of the Union of Myanmar and formerly as Burma, has undergone dramatic reforms in recent years under the administration of President U Thein Sein. The rapid transition from a military junta to an open economy has surprised the global community and will see Myanmar assume the ASEAN chair for the first time in 2014. Known as the ‘last frontier market’ Myanmar is rich in natural resources and has an established extractive industries sector, with one of the world’s oldest continuously producing oil fields. The country also enjoys significant mineral resources which remain greatly under explored by international mining firms - something the government is proactively trying to change. The easing of economic sanctions has accelerated the nation’s economic growth, but Myanmar still faces political challenges, including ongoing ethnic conflict and religious tensions. However, with greater access to international markets and a growing number of business opportunities, investors are cautiously optimistic about the country’s future.