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(Stir It Up!) Subscribe and save 57%   Advertisements Could Myanmar's economic reform bring business to war-torn ethnic regions? Myanmar has passed a new foreign direct investment law. Now a cease-fire in the country's war-torn Karen state has some entrepreneurs hoping to attract foreign investment. By Simon Roughneen, Correspondent / September 10, 2012 Myanmar factor

business to war-torn ethnic regions? Myanmar has passed a new foreign direct investment law. Now a cease-fire in the country's war-torn Karen state has some entrepreneurs hoping to attract foreign investment. By Simon Roughneen, Correspondent / September 10, 2012 Myanmar factory workers stage a rally outside Myanmar Labor's Office in Yangon, Myanmar, Friday, Sept. 7. Elected President Thein Sei

there is the antimony,” he says, referring to a potentially lucrative element mostly used in batteries and flame retardants.Antimony is just one of an array of natural resources prompting a surge in investor interest in Myanmar, which is better known for its gas, gemstones, timber, and oil. Given that antimony is also used sometimes in bullets, it is a grim irony that Shar Phaung could soon be mining in

names for what are better-known as Karen state and Pa'an respectively.Moreover, analysts say it will take more than peace to ensure significant economic change in Karen state.“We need outside investment, outside technology,” says Shar Phaung, who has yet to sign a contract with the government to mine the antimony. “We are hoping to get a bigger foreign partner to work more effectively,” he says. “W

the antimony. “We are hoping to get a bigger foreign partner to work more effectively,” he says. “We can only mine by hand right now, we don't have machines to do this properly yet.”A new foreign investment law was passed by Myanmar's parliament on Friday after several months debate, during which Western countries relaxed or suspended economic sanctions on Myanmar. The law scratched several potentia

law was passed by Myanmar's parliament on Friday after several months debate, during which Western countries relaxed or suspended economic sanctions on Myanmar. The law scratched several potential investment-deterring provisions from the original draft, such as a $5 million minimum initial spend for any foreign company wanting to invest. It could also help bring in the know-how and equipment Shar Phaung i

sanctions on Myanmar. The law scratched several potential investment-deterring provisions from the original draft, such as a $5 million minimum initial spend for any foreign company wanting to invest. It could also help bring in the know-how and equipment Shar Phaung is after.That might take time, however. “Foreign investors are looking to see the extent to which peace can be brokered, achieved

as a $5 million minimum initial spend for any foreign company wanting to invest. It could also help bring in the know-how and equipment Shar Phaung is after.That might take time, however. “Foreign investors are looking to see the extent to which peace can be brokered, achieved, and maintained in conflict areas prior to commitment of resources,” says Alessio Polastri, managing partner at P&A Asia,

P&A Asia, a consultancy that offers legal advice to companies seeking business in Myanmar.Another sticking point is the current mining law, which requires 30 to 70 percent profit sharing between an investor and the Myanmar government, which also seeks royalties and tax. The law is another likely deterrent to the sort of partner Shar Phaung wants, says Mr. Polastri, but one the government says it wil