Burma: High Economic Hopes, but Systemic Hurdles Remain | TIME.com  Skip to ContentTIMEBusiness & MoneySections →NewsFeedU.S.PoliticsWorldBusinessTechHealthScienceEntertainmentStyleSportsOpinionPhotosMagazineVideoLIFE.comListsTIME HomeEconomyWall StreetTechSmall BusinessPersonal FinanceReal EstateBusiness of CreativityManagementCareersNew EnergyDavos MagazineVideoLIFEPerson of the Year  Search Search TIME         FollowFacebookTwitterGoogle+TumblrRSS  Apps  Asia Will Burma Become Asia’s Next Economic Tiger?By Michael SchumanAug. 22, 20120   Share          STR / AFP / Getty ImagesPeople walk through a small bazaar at the Golden Rock temple in Burma's northeastern city of Kyaiktiyo, some 160 km from Rangoon, on Feb. 20, 2012EmailPrintShareFacebookTwitterTumblrLinkedInStumbleUponRedditDiggMixxDeliciousGoogle+  Comment  Follow @TIMEBusiness    On paper at least, Burma has all the elements required to create another Asian economic miracle. With a population of 48 million, the country has a large pool of low-cost workers custom-made to attract the labor-intensive manufacturing that jump-started income growth from South Korea to Malaysia. Natural resources, such as timber and minerals, could woo billions in foreign investment. And its strategic position nestled between China and India could turn Burma into a prime location for tapping into the megagrowth of those two Asian giants.Translating that promise into real dollars isn’t going to be easy, however. Lots of nations possess the potential for economic greatness. The problem is that few are ever able to realize it. Burma has been a case study in that failure. For 50 years now, Burma has been one of Asia’s great disappointments. After World War II, it was one of the region’s richest nations; today, it has sunk to among its poorest. Behind the woes is crushingly awful economic management by a military dictatorship that brutalized and isolated the country. While its neighbors Thailand, Malaysia, Singapore and Indonesia joined the ranks of Asia’s tiger economies, Burma wallowed in poverty, penalized by sanctions and impoverished by an unwillingness to reform politically or economically.(PHOTOS: Burma’s Aung San Suu Kyi Makes Her Parliamentary Debut)In recent months, though, a nascent democratic awakening has raised hopes among Asia’s business community that Burma could finally become the attractive place to invest it has always promised to be. The long-suffering pro-democracy opposition was permitted to contest parliamentary by-elections in April. Nobel Peace Prize laureate Aung San Suu Kyi, who was released from house arrest in November 2010, was allowed to campaign for a seat in the legislature, which she won. That liberalization has convinced the U.S. and the E.U. to start lifting economic sanctions that had been imposed on the country.The political reform has opened the door to achieving a real economic revival. Now that Burma has come in from the cold, it can start in earnest to woo the foreign investment it so badly needs. There is a window of opportunity here. China has been the 400-kg gorilla of Asia for years, sucking up vast sums of investment, especially in the low-end manufacturing that could create much needed jobs in Burma. But as costs rise rapidly in the Middle Kingdom, businesses are looking for new, cheaper destinations for their factories. Burma could very well fill the void.(MORE: Treatment of Muslim Rohingya Minority Shows Burma Has a Long Way to Go)Still, Burma might find that the cash it desires won’t come so easily. Burma, officially known as Myanmar, finds itself way, way, way behind its neighbors in development. As my colleague Hannah Beech put it in a recent magazine story on Burma: “In economic terms, the country is aspiring just to become a Bangladesh.” Burma lacks the infrastructure, sound regulatory environment and trained workforce to attract foreign investment in large sums. Burma “has very strong potential, but before realizing that potential, it has to tackle challenges to its development,” says Asian Development Bank (ADB) economist Cyn-Young Park.A report she wrote for the ADB, released on Monday, didn’t mince words when outlining these hurdles:Myanmar also faces multiple constraints and risks that may limit its progress. Key constraints include a weak macroeconomic-management framework devoid of market mechanisms, insufficient fiscal resources and inefficient domestic-fund mobilization, limited access to finance, deficient infrastructure, inadequate social services that hamper human-capital development and limited industrial diversification.If that sounds daunting, it is. There has already been some progress, however. In April, the government reformed its currency system, allowing for a single, market-determined exchange rate, which will help stabilize the climate for investment. But that’s just a start. The government has to marshal funds for investment in new roads and other infrastructure so manufacturers could get their products to markets around the world. More money is needed to beef up the nation’s schools to upgrade the quality of the workforce. Burma “has to invest in its future,” says Park. Achieving that will entail reform of the government itself, so that it can raise revenues and spend them more efficiently.(MORE: As Rangoon Races Forward, a Push to Preserve Its Architectural Past)Even more, Burma needs to create the legal framework for a functioning market economy. After being cut off in its own alternate economic universe for decades, the country simply lacks the clear rules and regulations foreign companies require to safely and confidently invest. My colleague Emily Rauhala found that out in April, when she attended a seminar for investors held in Hong Kong by the Burmese government. The room was packed with businesspeople, who peppered the government representatives with questions. Can foreigners own property? Will state companies play fair? The answers that came back were less than satisfying. Often, the officials had no clear response. Burma has to put in place “the basics for the market to function,” says Park. “It is going to take a while for the government to be fully adjusted to the market system.”That may be the biggest question facing the future of Burma. Achieving all these reforms and implementing the necessary policies requires a certain degree of expertise on the part of the government — in Burma’s case, an expertise that could well be lacking. Stephen Groff, a vice president at ADB, says that “the will to move forward is very strong” but “the challenge is: How do you build the competency quickly?” Groff says there is a core group of economic experts surrounding the senior leaders, but “after that, it gets really thin really quickly.” The inexperience of Burma’s bureaucracy in running a modern economy could easily derail the implementation of new national policies. “In order for the reform effort to be sustained, it has to grow roots,” Groff says.Still, there is reason for continued hope. If Burma manages to overcome these hurdles, its potential is undeniable. ADB estimates that growth could reach 7% or 8% annually, and per capita income could triple by 2030. After so many decades in the wilderness, such a performance would finally make Burma roar.MORE: Titanic 3-D First Hollywood Film Released in Burma in a Generation 11 comments   Get LivefyreFAQ    Sign in      + Follow    Post comment                          Link                Sort: Newest | Oldest  RobertSF 5pts  There's no reason why Myanmar (why does the article use the former name?) should become an economic tiger. Sure, it has millions of low-cost workers, but so what? There's no shortage of low-cost workers in China. China is actually slowing down because Western nations can't continue consuming like they have. Is Myanmar going to get into a labor price war with China? It's welcome to it, but that's not going to bring prosperity.        tosty 5pts  Burma government first needs to stop killing innocent people of Islamic religiondoing terrible crimes that can be called genocideWhile some leader have the Nobel Peace Prize and called Democrats       tosty 5pts  Burma government first needs to stop killing innocent people of Islamic religiondoing terrible crimes that can be called genocideWhile some leader have  the Nobel Peace Prize and called Democrats       tosty 5pts  Burma government first needs to stop killing innocent people of Islamic religiondoing terrible crimes that can be called genocideWhile some leader have the Nobel Peace Prize and called Democrats      Pone Z Pyo 5pts  come on... drop the lies already. Everyone knows no fact about Rohingya that came out from Pakistan is real.         tma_sierrahills 5pts  One of the central problems of Burma/Myanmar is that no one can agree on what to call it.       adam_onge 5pts   So just like Finland/Suomi, Germany/Deutschland, Greek/Hellas, Hungary/Magyarorszag, Austria/Östereich, China/Zhuongguoa, Japan/Nippon, Spain/Espagne, Ceylon/SriLanka, Rhodesia/Zimbabwe, Switzerland/Schweiz, Sweden/Sverige, ...      tma_sierrahills 5pts  Then it is journalists you will need to talk to, because for several years I have been reading many news accounts that have been including the phrase after Myanmar, "formerly known as Burma." Now they are back to a straightforward use of Burma (which I kind of like). To say that a nation is known by two names, one in its home language and one internationally, or by people in Western nations, versus saying that a nation's official name has been changed by the people in charge are two completely different things. Spain and Espagne/Espana are the same nation. But, as far as I know, Rhodesia no longer exists, and I have to wonder if Zimbabwe does not translate into "Black-on-White-Farmer-Slaughterhouse." Finally, when it is a matter of language, like Spain or Sweden, each nation has far more than two names, since there are about 6,000 languages in the world.            rory2012 5pts  Burma is on the spotlight because the West wants you be there for the time being due to the Chinese factor. Once come to the returns of their investment consideration,you are long way off their target so your  poverty will continue.You name will be drawn to attention again whenever the Chinese card played by the West again.      omegafrontier 5pts  Oh yes, how could Burma not see that Western nations are using them as a satellite state!  It fits all together perfectly now.  It explains why Burma leadership suddenly and voluntarily open up asking for Western nations partnership.  That's why the presence of China in Burma is more than any country in the world.  It's a TRAP by Western nations to turn on those poor, misunderstood Chinese communists.  Man, can you believe these so ever calculating Western leaders who couldn't fix their debt crises but is able to manipulate a foreign nation against its interests.           Ben_300cg 5pts  A very informative article.  I hope it touches the heart of potential reformists in Burma and the world.                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All rights reserved  Privacy PolicyYour California Privacy RightsRSSNewsletterMobileTIME For KidsSubscribeContact UsTerms of UseMedia KitReprints & PermissionsHelpSite MapAd Choices Custom Content Powered by WordPress.com VIPour partners                Myanmar's surprising government: Dammed if they don't | The Economist   Investing in Myanmar: Triplicating success | The Economist   Myanmar's minorities: Caught in the middle | The Economist   Change in Myanmar: Follow my lead | The Economist   Myanmar’s future in Asia: Brave new world | The Economist   Myanmar: A dangerous backdrop | The Economist    Burma: first steps for investment of western capital | Guardian Sustainable Business | Guardian Professional  Turn autoplay offTurn autoplay on Please activate cookies in order to turn autoplay off  Jump to content [s]Jump to comments [c]Jump to site navigation [0]Jump to search [4]Terms and conditions [8]  Edition: UKUS   Sign in MobileYour profileYour detailsYour commentsYour clippingsYour lists  Sign out Mobile  About us About us Contact us Press office Guardian Print Centre Guardian readers' editor Observer readers' editor Terms of service Privacy policy Advertising guide Digital archive Digital edition Guardian Weekly Buy Guardian and Observer photos     Today's paper The Guardian Comment and debate Editorials, letters and corrections Obituaries Other lives Sport Review Travel Family Money Work Weekend The Guide Subscribe    Subscribe Subscribe to the Guardian iPhone app iPad edition Kindle Extra Guardian Weekly Digital edition All our services         The GuardianGuardian Sustainable BusinessUser comments   News Sport Comment Culture Business Money Life & style Travel Environment Tech TV Video Dating Offers Jobs   Professional Guardian Sustainable Business  Blog Hubs Events Awards Jobs Become a member Directory About us A to Z          Burma: first steps for investment of western capitalFor the social impacts of international investment in Burma to be positive, companies need to align their interventions with international norms    Share   Tweet this   Email      John Morrison  Guardian Professional, Tuesday 31 July 2012 15.47 BST Jump to comments (…)   Burmese women take a break while working at the fish Annawa fish market and seaport. Photograph: Paula Bronstein/Getty Images Burma represents a test of much of what has been written about the social impact of business, and piloted elsewhere. Given the history of sanctions which until recently kept western capital out of the country, the social impact of this capital in Burma will be tangible. There will be no place in Burma for self-promoting corporate social responsibility (CSR) or cultural relativism. Instead companies will need to align their social interventions to international norms. Burma is also a country where the human rights case for any business should be self-evident. If early conclusions about whether the social impacts of international investment are to be positive, then the work of business, civil society, governments and trade unions needs to start now.Burma's president Thein Sein and opposition leader Aung San Suu Kyi have both called for investment into Burma. They recognise that business needs to be sustainable in both social and environmental terms. These are encouraging commitments. Now they need to be translated into tangible actions. For this investment to be responsible, it must deliver value both for investors and the people of Burma, operate with respect for the rule of law and be accountable for its actions and impacts.A key measure of social sustainability in Burma will be the alignment of investment with international standards, such as those of the United Nations, International Labour Organisation as well as multi-stakeholder approaches such as the Extractive Industries Transparency Initiative (EITI). The United Nations Guiding Principles on Business and Human Rights, endorsed unanimously by the UN Human Rights Council in June 2011, are crucial to getting investment in Burma right. Both the European Union and the United States have made direct reference to the Guiding Principles when announcing their respective easing of sanctions. The US government has included the Guiding Principles as part of its new reporting requirements for US businesses investing in Burma. Moreover, the UN framework is a key part of the updated OECD Guidelines on Multinational Enterprises and other initiatives such as the ISO 26,000 social responsibility standard adopted last year.For the UN Guiding Principles to help in making responsible business a reality, they must be applied in the day-to-day life of business activity. This means companies should undertake ongoing human rights due diligence processes – to know the risks and to take all actions possible to minimise any negative impacts of business activity. Critical questions still requiring stronger consensus in order to move in this direction include how much knowledge a company can be expected to have, both in terms of impacts of its actions, and the environment in which it operates. Another important question concerns levels of transparency – how much disclosure and reporting of social impacts is necessary when operating in countries experiencing the challenges currently faced by Burma?For many international companies considering investments in Burma, a huge challenge is how they will select their local business partners. Getting this right is critical to avoiding relationships with local businesses accused of having benefited from cronyism, that has resulted in Burma being rated poorly by leading corruption indices. During the time when EU and the US sanctions were in force, lists were compiled of individuals and companies viewed as being linked to government repression. However, in the political context of Burma during the sanctions years, many local businesses had no choice but to work with the government or the military. Many benefited from such ties. This places enormous importance not just on the due diligence investors need to undertake before selecting business partners, but also the accountability and transparency of these relationships over the months and years ahead.International companies that think they can be secretive about their relationships in Burma, beyond the threshold justifiable by normal competitive requirements, are gravely mistaken and will be increasing the risk associated with their investments and operations. This is equally true in the context of other key challenges ahead for the country, such as issues relating to land appropriation and use, discrimination, labour rights, conflict and resource allocation.The Institute for Human Rights and Business (IHRB) is working with the Danish Institute for Human Rights on a new initiative to develop a resource centre with partners in Burma to help business, government, civil society and trade unions apply the UN Guiding Principles and other relevant international standards to the many challenges ahead. That includes learning from how difficult questions relating to corporate responsibility have been addressed across a broad range of business sectors and in different parts of the world. The bottom line is that all actors in Burma need to be accountable for their human rights impacts. It is equally important that people have access to adequate remedies when rights abuses do occur. These points are critical in shaping a culture of sustainable investment in the country.John Morrison is executive director of the Institute for Human Rights and BusinessThis content is brought to you by Guardian Professional. 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Share   Tweet this                 Print Article - UK Business News | IBTimes  Wednesday, February 29, 2012 11:18 PM GMTBurma’s Economy: The Next Big Story in AsiaBy Chris Mayer"It's like Thailand was 50 years ago," Alexandre de Lesseps told me. We were talking about the next big emerging market to bloom in Asia. It may surprise you, but it is one heck of a story... and opportunity. It also fits our grand thesis on emerging markets and is the subject of my upcoming book, World Right Side Up. The country I'm talking about is Myanmar (or Burma, as most people still seem to call it).I caught up with Alex over the holidays because I remembered his infectious enthusiasm for the country. He is an accomplished investor of frontier markets, those half-forgotten realms on the fringe of the investing world. Alex has been investing in Burma for 15 years as a partner at SPA Capital Partners, working with Serge Pun & Associates.The latter is an investment holding company that has been in Burma since '91. (And yes, Alex is the great-great- grandson of Ferdinand de Lesseps, the French developer of the Suez Canal, who also oversaw the early construction of the Panama Canal.)I first met Alex at a dinner at a pleasant riverside restaurant in Phnom Penh, Cambodia. My friend Doug Clayton of Leopard Capital arranged the dinner. (We'll hear from Doug in a bit.) I was in the middle of a swing through Thailand, Cambodia and Vietnam. When I asked investors in these places what the next big story to emerge from Southeast Asia would be, the answer was always the same: Burma.Burma is beginning, at last, to thaw. The grip of the military junta is loosening, by its own hand. ("This is very important," Alex said. "The decision to change the country came from within. It speaks to the depth and substance of the changes taking place.") The market is beginning to open up. Political prisoners have been released. Press censorship rules have been relaxed. Things are happening quickly. Even Hillary Clinton visited late last year, the first US Secretary of State to do so in 50 years.Alex told me he's never seen anything like it in all his years in Burma. The hotels are full. Many are already sold-out for the first few months of the year. And Burma gets more and more mainstream attention nearly every week. Why is Burma important?In short, it has everything the world craves - in size. The Wall Street Journal reported: "Myanmar's potential is too great for some investors to ignore. One of the last, large frontier markets in Asia, it is rich in oil, gas, timber and gems and has the potential to be a major rice and seafood exporter." Estimates of natural gas reserves, for instance, would make Burmese fields the 10th largest in the world. Labour costs are low, which could support basic manufacturing.Doug Clayton visited Rangoon (Yangon) and wrote about it in his newsletter. Doug notes that Burma has the largest landmass in mainland Southeast Asia and big fertile river deltas. It has 1,240 miles of uninterrupted coastline, deep-water port sites on the strategic Indian Ocean, plus 600 little-used tropical islands.As home to more than 2,000 pagodas and temples and miles of pristine beaches, Burma could support a larger tourism business. "From my own wanderings in both countries," Doug concludes, "I would rate Myanmar's long-term tourism potential just as strong as Thailand's - which draws 14 million tourists a year, versus Myanmar's 300,000."The comparison with Thailand is hard to miss, and Doug pursues it further. "To comprehend Myanmar's potential, look over the border at Thailand, a country of comparable size and population," Doug continues. "Around the time of World War II, colonial Burma's economy and development surpassed Thailand's."Since then, though, Thailand's economy is now 10 times bigger than Myanmar's. Doug reckons that "the gap between these historical peers seems likely to narrow as Myanmar introduces a political system more similar to Thailand's."This is essentially the motive force behind the "world right side up" idea - this narrowing of historically anomalous large gaps in development to a world more in tune with longer historical experience (and hence, right side up).One of the books I read over the holidays was Thant Myint-U's Where China Meets India: Burma and the New Crossroads of Asia. Thant continues the theme. Rangoon was once the rich capital of British Burma. It was an exporter of rice, timber and oil."By the late 1920s," Thant writes, "Rangoon exceeded New York as the greatest immigrant port in the world... Rangoon became a hub for all of Asia." By the 1930s, Burma's economy, on a per capita basis, was at least twice that of China's. Today, China's is about six times as great. That is a gap that ought to narrow as Burma opens up.Simple geography also anchors Burma's importance. It sits between China and India like a hinge. It is a big country, the size of France, with 60 million people. Thant makes Burma's unique position clear. If you draw a 700-mile radius around Mandalay, Burma's second-largest city, you encompass a population of 700 million people - nearly one in 10 of all the people on the planet.It is a natural crossroads. Already, work has begun on a network of pipelines and highways and railways - all with Burma as the bridge to the two potentially biggest markets on earth, China and India."There will be opportunities to invest," Alex told me. Indeed, he's already seeing investors line up. In the next several months, new funds will launch. The Tokyo Stock Exchange announced it would help Myanmar develop its stock market. Many companies are already trying to elbow their way in Burma.These are mostly Asian companies, as they are not covered by the sanctions imposed by the US and Europe. But some Western companies are already making inroads. Unilever sells soap and soup. Caterpillar, too, has a business there. And a few are still there as exceptions to the sanctions, such as the French oil giant Total.Overwhelmingly, the foreign investment has focused on oil and gas, mining and power. And Burma's biggest investor has been China. (One Chinese businessman quoted in Thant's book says, "I hope the sanctions last forever." And why not? It keeps out the competition.) There is plenty of opportunity in basic things like cement and automobiles and hotels.And it's all just beginning. We'll keep an eye on Burma as opportunities open up. It's an exciting time to be an investor as the world turns right side up.Regards,Chris Mayer for The Daily Reckoning AustraliaChris Mayer is the editor of US-based newsletters Capital & Crisis and Mayer's Special Situations.This article originally appeared in The Daily Reckoning USA          Print Article - UK Business News | IBTimes  Friday, June 1, 2012 3:27 PM GMTSuu Kyi Pleas For Foreign Investment Into Myanmar, But Warns Against Excessive Optimism Over ReformsBy Palash R. GhoshAung San Suu Kyi warned the world against expecting too much from the pace of democratic reforms in her native Myanmar (also known as Burma).In a much-anticipated speech at the World Economic Forum in Bangkok, Thailand, the newly-elected parliamentarian said there was already too much “reckless optimism” over a number of moderate reforms that the nominally civilian government of Myanmar has enacted over the past two years.She cited, among other things, that the Burmese parliament was far from a democratic body, that there existed no independent judiciary in the country and that the military (which ruled the country with an iron hand for fifty years) still wields a significant amount of power and may not embrace further democratic reforms.However, she urged foreign investors to invest in Myanmar in order to provide jobs for the young and alleviate high rates of poverty. But even that sentiment was tempered by her fears that an influx of foreign money might serve to exacerbate inequality and spawn more corruption.“Investors in Burma, please be warned – even the best investment law would be of no use whatsoever if there is no court clean enough and independent enough to be able to administer these laws justly," she said."Good laws already exist in Burma, but we do not have a clean and independent judicial system. Unless we have such a system it is no use having the best laws in the world."She added: ''I am here not to tell you what to do but to tell you what we need. There is a great need for basic skills. We need vocational training much more than higher education. We want [foreign investments] to mean jobs. Please think deeply for us. We don't want investment to mean further corruption. and greater inequality."Suu Kyi also said she hopes for the day when Burma becomes “part of that more prosperous, peaceful world.”The Burmese icon has dominated the summit with the sheer weight of her star power. Prior to her formal appearance at the summit, she made a splash by ditching her luxurious Bangkok hotel in order to meet with poor Burmese migrants in a humble suburb south of the gleaming city and promised to help them.Next month, Suu Kyi will voyage to Europe, where she is expected to make a speech in Geneva and also journey to Oslo, Norway, to formally accept the Nobel Peace Prize she was awarded in absentia in 1991. She is also expected to make stops in Paris, Ireland and the UK, where she has family members.          U.S. to demand disclosures as it eases Myanmar sanctions | IBTimes UK  Digg Del.icio.us Newsvine  Facebook Stumbleupon Log in to your IBTimes Account IDPassword                | Sign In  | Register For Free   HOMEMARKET DATACOMPANIESFOREXCOMMODITIESGOLDCFD CENTREBROKER CENTRE ibtimes.comQUICK LINKS : World | UK | Economy | Global Markets | Technology | Education | Green | Health | Travel | Sports U.S. to demand disclosures as it eases Myanmar sanctionsComments  0Rating  Unrated (0)  EMAIL PRINT RSS SHARETEXT SIZE: A A A    By Arshad Mohammed11 July 2012 @ 05:48 pm BST VIENTIANE - The United States on Wednesday eased sanctions to allow its companies to invest in and provide financial services to Myanmar but will require them to make detailed disclosures about their dealings, the White House said.The unusual reporting requirement aims to promote greater transparency in the country - among the world's most corrupt according to watchdog Transparency International - as it emerges from nearly half century of military rule.In a development first reported by Reuters early on Wednesday, President Barack Obama directed the U.S. Treasury Department to issue two general licenses, one giving general permission for investment in Myanmar and the other allowing financial services."Easing sanctions is a strong signal of our support for reform, and will provide immediate incentives for reformers and significant benefits to the people of Burma," Obama said, using the traditional name of the Southeast Asian country.But the president added that the unfinished state of reforms left the United States "deeply concerned about the lack of transparency in Burma's investment environment and the military's role in the economy.""U.S. companies will be asked to report on their activities in line with international corporate governance standards," Obama added.The rules require U.S. individuals and entities making new investments of more than $500,000 to submit annual reports to the State Department on issues such as human rights, workers' rights and environmental stewardship, the department said.Annual payments exceeding $10,000 made to Myanmar government entities including state-owned enterprises must also be reported, while those investing in the Myanma Oil and Gas Enterprise must notify the State Department within 60 days."The purpose of the public report is to promote greater transparency and encourage civil society to partner with our companies toward responsible investment," the departments of State and Treasury said in a fact sheet explaining the policies.White House spokesman Tommy Vietor told reporters the new investment "does not authorize investment with Burmese Ministry of Defence, state or non-state armed groups, or entities owned by the foregoing."NO REWARDS FOR ABUSERSThe moves fulfil a May 17 announcement made by U.S. Secretary of State Hillary Clinton to ease U.S. sanctions on investment and financial services in recognition of Myanmar's startling political reforms over the last 15 months.The Obama administration left the sanctions laws on the books, giving Washington leverage should Myanmar start to backslide on its reforms.Obama added a new Executive Order expanding sanctions to cover "those who undermine the reform process, engage in human rights abuses, contribute to ethnic conflict, or participate in military trade with North Korea," he said.This order underscored that "individuals who continue to engage in abusive, corrupt, or destabilizing behaviour going forward will not reap the rewards of reform," said Obama.Clarification of the rules for investment could prompt a rush of U.S. companies into the country.Coca-Cola Co, for instance, said last month it wanted to work in Myanmar as soon as the government allowed it. It is one of just three countries in the world where the soft drinks giant does not operate. The other two are North Korea and Cuba.Conglomerate General Electric Co has also expressed strong interest in the country, particularly in the healthcare and electricity sectors. In the face of street protests over power outages, Myanmar's government promised in May it would buy two 25-megawatt gas turbines from the company.Sanctions have also been suspended or lifted by other developed countries, including Canada, Australia, Japan and European Union states.The British government's trade promotion body, UK Trade & Investment, opened an office in Myanmar's commercial capital, Yangon, on Wednesday.ACTIVIST GROUPS REMAIN WORRIEDMyanmar's quasi-civilian government took office in March 2011 and has started overhauling its economy, easing media censorship, legalizing trade unions and protests and freeing political prisoners.The United States has responded with diplomatic and economic gestures, sending Clinton to Myanmar last year as the first U.S. secretary of state to visit in more than 50 years, as well as tentatively easing sanctions this year.One source said the long delay between Clinton making her announcement and the Treasury issuing the licenses was partly because of a debate among officials over how much disclosure to require.In a land of widespread poverty but rich in timber, gems, and gas, Myanmar's crony capitalists - a clique of fewer than 20 families - grew rich with help from Than Shwe, a military dictator who ruled from 1992 until he stepped aside last year."The central point of all of this is to focus on transparency, the theory being that the more information the greater the incentive to comply with responsible norms and practices," the source said.This source said that some disclosures would be to the public while others would be in confidence to the U.S. government to protect proprietary business information. The State Department said it would announce a public comment period for the private sector to study the reporting requirements and to flag any problems.Human rights groups and exiled Burmese democracy activists remained sceptical that military officials and army-linked businessmen could be prevented from profiting from U.S. deals."The U.S. government has acknowledged that there are many unacceptable business partners in Burma. However, the government has failed in its responsibility to clarify who these actors are, or to prohibit U.S. companies from conducting business with these problematic entities," said a joint statement by the U.S. Campaign For Burma and three other advocacy groups.The latest step in easing sanctions came a day after Derek Mitchell, an Asia expert with long think tank and Pentagon experience, presented his credentials as the first U.S. ambassador to the country in decades.(Additional reporting by Matt Spetalnick, Doug Palmer and Paul Eckert in Washington; Editing by Jonathan Thatcher, Cynthia Osterman and Jackie Frank)  Copyright 2011 Thomson Reuters UK. All rights reserved. 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All Rights Reserved. Partners           Burma has made positive steps towards reform, but more work is needed | Avaaz members worldwide AVAAZ HOME  ABOUT US  HIGHLIGHTS Feedback x  Contact the Daily Briefing team with comments, stories and ideas ... email briefing@avaaz.org Help Us Build This.   Send us your ideas ...  Edit story  Make Live  Depublish  Burma  A race to reform? Or a race to profit? by Avaaz Team - posted 16 October 2012 17:27 Tweet  What does the future hold for the people of Burma? (AFP/Getty) Burma’s transition from international pariah to poster child for democratic change has happened remarkably quickly. Or has it? The US, EU and other world powers have been quick to reward Burma's once-notorious regime for a series of dramatic, positive reforms. Diplomatic channels have been opened up for the first time in decades, many economic sanctions have been lifted and there's been a surge in international investment.But the country’s weak rule of law, rampant corruption and terrible treatment of minority groups are often glazed over in the rush to invest in the "new" Burma. This week, the government barred a global Islamic body from opening an office to help members of Burma's Muslim population, who are suffering from horrifying communal violence in the west of the country. Is Burma at the beginning of a new era of democracy, or have reforms simply given the new government a cover to boost business – and foreign investors a chance to profit? On a path to reformThe Burmese regime, aiming to end its global isolation and seeking foreign investment to breathe life into its stagnant economy, has gone to great lengths to prove it is changing. After five decades of military rule and repression, the past eight months have brought dramatic reforms, including the release of 700 political prisoners, the abolishment of a long-standing censorship rule that required all journalists to submit their work for review before publication, and President Thein Sein’s shake-up of his cabinet. In September, as opposition leader Aung San Suu Kyi began her first tour of the US since being released from house arrest, and Thein Sein prepared to attend his first UN general assembly in New York, the government pardoned 500 more prisoners. The international response has been swift. In recent months most economic sanctions have been suspended or eased. The World Bank and the Asian Development Bank have opened offices in Burma, Japan waived $3.7bn in unpaid debt, and a number of countries have announced significant increases in aid. Last month, Aung San Suu Kyi – reportedly under pressure from her government – gave the US the go-ahead to drop its major remaining sanction: a ban on all Burmese imports. It worked. Then, this week, the US sent a delegation of senior military officials to build closer ties with the Burmese military. But who will get rich?The less good news is this. Despite an end to total military rule, much of Burma's population continues to suffer: after decades of isolation, the economy remains one of the least developed in the world, with one-third of its people living below the poverty line. The nation rates second to last (behind North Korea) in healthcare spending per capita and in 2011 it was ranked the fourth most corrupt country in the world by Transparency International. Burma has many natural resources, especially natural gas reserves and gems – making it an appealing trading partner for the west. But until now, the Burmese people have seen almost none of the economic benefits of the country's vast natural wealth. China had been Burma's largest foreign investor to date, but the new government is eager to promote growth (and less reliance on China) by courting other foreign investment. Major corporations are now scrambling to jump on the bandwagon. Just after the US eased sanctions on Burma in June, it brought in a slew of major US companies – Chevron, General Electric (GE), Goldman Sachs and Google, to name a few – to begin exploring investment opportunities. Days later, GE became the first US company to sign a deal, and Coca-Cola and Pepsi have been the latest companies to announce they’ll start doing business in the country.However, the military still controls Burma’s largest companies. So will anyone other than the elite benefit from investment? Battles still being foughtFor the millions who are from ethnic minorities – hundreds of thousands of whom have been displaced by decades of conflict – the answer seems to be no. They still suffer widespread discrimination, and the regions they live in have been ravaged by conflict. For decades, these groups have been fighting for the political rights they were denied under military rule – and many of those battles continue today. One of these groups is the Rohingya, a persecuted Muslim community that has been stripped of basic human rights and denied Burmese citizenship, despite having lived in the area for more than 150 years. Currently, 800,000 Rohingya Muslims are stateless in the west of the country, where clashes have killed at least 77 people and left 90,000 homeless since June. And this week the government made it quite clear that it didn't intend to change its policies when it prohibited the Organisation of Islamic Conference from opening an office to provide desperately needed help to the Rohingya community. In the north, a 17-year ceasefire collapsed with the ethnic Kachin rebels in 2011. In recent months alone at least 75,000 people have been displaced by fighting; according to human rights groups the Burmese army has been attacking civilian areas and using torture, rape and murder to clamp down on the uprising. Although the government has pledged to resolve the conflict and President Thein Sein reported that "informal consultations" had started again with the Kachin, too little is being done – and vast numbers of people continue to suffer. And in the east, conflict between the Burmese military and the Karen minority has endured for decades. Peace talks earlier this year prompted optimism, but large numbers remain displaced and violence continues today. Physicians for Human Rights (PHR) found that almost one-third of households it surveyed in the area had been subjected to horrific treatment like forced labour, forced displacement or physical attacks in the past year.PHR also found that in areas near development projects, these outrages were much more common – sparking fear that without proper safeguards, an investment gold rush may actually cause minority communities to suffer even more in the future. Take this chance"Before history gets totally rewritten, it’s worth making a couple of points," a Washington Post editorial cautions. "One is that generals and ex-generals still run Burma, as generals have been running Burma for the past half-century. The stirrings of reform that have allowed Aung San Suu Kyi to travel and that prompted the United States to lift pretty much the last of its economic sanctions last week, are only that: stirrings. There is no rule of law, no independent judiciary."This underlines a key reality. Truly positive and long-lasting change won't be achieved until Burma as a whole – including its ethnic minorities – sees the benefits of foreign investment in their daily lives. The country is at a crossroads. Now it's up to rest of the world to act: to urge leaders and companies to act responsibly; and to insist that the easing of sanctions and more investment in Burma must be contingent upon its fair treatment of all its citizens. Until this happens, the big Burma gold rush could hurt more people than it helps.Sources: BBC, Reuters, Avaaz, CNN, Politico, Mizzima, Transparency International, Economist, VOA, Forbes, Nation, Al Jazeera, Irrawaddy, Physicians for Human Rights, Global Post, Washington PostShare on FacebookTwitterEmailGoogleStumbleUpon Please enable JavaScript to view the comments powered by Disqus. blog comments powered by DisqusRELATEDBurmaRELATEDHuman rights Riot police break up Burma protest Tear gas and water cannon used on demonstrators objecting to land grab at copper mine ...  Oil showdown in the Amazon Ecuador's Kichwa will 'fight to the death' to protect their pristine rainforest home ...  Obama’s magical mystery tour The US president is visiting Thailand, Burma and Cambodia. Here are 3 things he must talk about ...  Is this what American 'justice' looks like? 7 terrible truths about the US prison system ...  A problem Burma can't hide Violence against Rohingya Muslims is captured by satellite imagery ...  5 shocking facts about America's 'justice' system Obama is sworn in on Martin Luther King Jr day – but how far have we come? ...  Hi, .  Global: Dashboard – Stats – Settings – EditorsNewsletter – URLFront: Storylines – Need to know – SidebarFeatured Headlines – Slideshow – Comments – LightboxStorylines: Add storyline – All storylinesPosts: Add post – All posts – DraftsBlurbs: Create – Translate Logout Lets be friendsFollow @Avaaz Get Briefed!  Get the best stories and videos in your inbox daily.  SUBSCRIBE TODAY  Most Popular  Read More I am default title, edit me in blurbs first I am default body, edit me in blurbs first Thanks for signing! We'll keep you updated with important news. Please read our privacy policy. Take Action  I am default title, edit me in blurbs first I am default body, edit me in blurbs first Always get the latest headlines — Subscribe to AVAAZabout usprivacy policycontact avaaz 2012 Avaaz.org,  Creative Commons Attribution 3.0 Unported License Analysis - Myanmar's ambitious Dawei project faces uncertainty - IBTimes UK       Skip to Main ContentU.K. Editions Australia EditionChina EditionGermany EditionIndia EditionItaly EditionJapan EditionKorea EditionMexico EditionU.K. EditionU.S. Edition   MobileMost PopularTopics   |   Log In   |   Register Now     The IBTimes UK site uses cookies. By continuing to use this site you agree to our cookie policy. You can view our cookie policy here.       FinanceSEARCH IBTIMES           NewsWorldUKEconomyCompaniesTechSportsLawReal Estate  Featured NewsFA Cup: Leeds vs Tottenham Hotspur PreviewBasking in the shadows? Regulators are watching youLogitech Abandons Console Peripherals In Effort To Cut CostsJapan defends stimulus, yen policy under fireAUD/USD Forecast 28 Jan 13 Hot Topics    MarketsMarket DataGlobal MarketsCommoditiesForexGoldGreen EconomyCFD Centre  Latest HeadlinesThe Bank of Japan Fires a Pop-GunGlobal Smartphone Shipments Breached 700 Million Mark in 2012: ReportChina Imposes Anti-Dumping Duties on US and EU ChemicalsMicrosoft’s Q2 Profits Dip on Windows 8’s Late ResurgenceAustralian Stock Market Report – Afternoon 1/25/2013    Life & StyleArts & DesignLuxury & BrandsFashion & LifeAutos & TrendsTravelHealthEntertainmentEducation  Latest HeadlinesSpeed Trip: Top Athletes, Manny Pacquiao’s Favourite Sports Cars (VIDEOS & PHOTOS)DIY Oscars 2013 Inspired Fashion: Jennifer Lawrence, Naomi Watts, Jessica Chastain [PHOTOS]Manny’s Many Mansions: A Peek at 5 Pacquiao Palaces (VIDEOS & PHOTOS)Qantas, Emirates Alliance Finally Lifts OffTripAdvisor Names Best Hotels in Australia    TopicsTVToolsBlogsBroker CentreWorld Business Headlines        Follow IBTimes        World | UK | Economy | Companies | Tech | Science | Law | Real Estate | Sports | Slideshows | Picture This     Analysis - Myanmar's ambitious Dawei project faces uncertaintyBy Jason SzepFebruary 3, 2012 10:42 AM GMTDusty roads and makeshift offices are the only hints of the ambitious $50 billion (31 billion pounds) project slated for the thick jungles near Myanmar's southern city of Dawei, billed by its developers as the "new global gateway of Indo-China." Big questions surround the far-reaching plans by Thailand's largest construction firm, Italian-Thai Development Pcl, to transform 250 sq kms (97 sq miles) of scrubland in southern Myanmar into Southeast Asia's largest industrial complex."There is very little activity around here related to this project. A lot of us wonder if they are really confident enough about it to go forward with it," said Kyaw Naing Oo, 40, a trader in Maungmakan, whose white-sand beaches would border the project.That comment is echoed by other villagers, industry analysts and even the government.In a country where a third of the 60 million people live on less than one U.S. dollar a day, Dawei is striking in its scale and ambition. Follow us  Follow @IBTimesUKSuper-highways, steel mills, power plants, shipyards, refineries, pulp and paper mills and a petrochemical complex are part of it, as are two golf courses and a holiday resort - all strategically nestled in Southeast Asia between rising powers India and China.But just over a year since the former military junta signed a deal to create Myanmar's first and biggest special economic zone (SEZ) at Dawei, the project has made little headway, despite the dramatic political reforms sweeping the country and the prospect of a gradual lifting in Western sanctions as the former British colony emerges from half a century of isolation.Italian-Thai has yet to secure $8.5 billion to finance construction of its first phase -- roads, a telecoms network, utilities and a port -- after building a dirt road of more than 100 km (62 miles) to neighbouring Thailand. Its executives hope to find a strategic partner by year-end and plan to present the project to potential investors in South Korea this month.Myanmar Energy Minister Than Htay told Reuters last week that at least two other SEZs would be developed more quickly than Dawei: the Thilawa project near the commercial capital, Yangon, and Kyaukphyu, where the China-Myanmar pipeline starts and a deep-sea port is nearly finished."It is faster than the Dawei zone," he said of Kyaukphyu. "Now we are considering supplying the electricity at Kyaukphyu area," he said.Securing a stable source of electricity has been at the heart of Dawei's problems since the government abruptly halted construction of a 4,000 megawatt coal-fired power plant in the area on January 10, citing environmental concerns.ENERGY SUPPLY "NOT SURE"Somchet Thinaphong, managing director of Dawei Development Co Ltd, controlled by Italian-Thai, told Reuters on January 23 that its power plant partner, Ratchaburi Electricity Generating Holding Pcl, would decide on a fuel type within three months, including the possible use of natural gas funnelled to the site via a 50 kms (31 mile) pipeline from fields within Myanmar.But Than Htay ruled out using natural gas to fuel Dawei."Up to now the electric power supply for that project is not sure," he said of Dawei.In a country beset by chronic electrical outages, powering even a home can be difficult, let alone an industrial zone. Blackouts are common across the country, even at Yangon's international airport.That puts pressure on Ratchaburi, whose involvement is limited to a feasibility study as "a preliminary step," it said in a November 16 statement.Than Htay stressed other ministries would decide Dawei's future, not his. But he offered his personal view of what the government will do: "My guess is sell out, according to the contract made by the previous government."Italian-Thai , which signed a 60-year concession to develop Dawei 14 months ago, has brushed aside those comments. Somchet of Dawei Development Co insists the project will go ahead. "It's at the point of no return. They can say whatever they want but the final decision will depend on the special committee chaired by Myanmar's president," Somchet told Reuters on January 27.He has a powerful local partner. A quarter of Dawei Development is held by Max Myanmar Group, owned by Burmese tycoon Zaw Zaw, whose close ties to the government put him on the U.S. targeted sanctions list in 2009.A November 15, 2007 U.S. diplomatic cable described Zaw Zaw as an "up and coming crony." Today he is one of Myanmar's most influential businessmen.Thailand's top lender, Bangkok Bank, is advising on the power project and Siam Commercial Bank on the whole project.Companies that Italian-Thai has identified as possible investors include Malaysia's Petroliam Nasional Bhd, Japan's Mitsubishi Corp, Mitsui & Co and Sumitomo Corp, and South Korea's POSCO.Japanese Trade and Economy Minister Yukio Edano discussed the project with the Myanmar and Thai governments when he visited both countries last month."This project is huge and is getting a lot of interest from foreign investors," said Somchet, who personally met Edano and sees Dawei as a possible location for Japanese firms to build parts for use at car manufacturing plants in Thailand, as well as a low-cost location for industrial production for Thai companies.He expects much of the infrastructure, including a proper road to Thailand, to be completed within three years, creating a stable route for cargo sent to Dawei from the Middle East and Africa for shipping to Bangkok and beyond in Southeast Asia, bypassing the congested Strait of Malacca."CLOUDED WITH RISKS"Brokers appear less sure.In a recent note to clients, Singapore stock brokerage DBS Vickers Securities highlighted the risks."Despite potential to bring economic prosperity to Burma, the project is still in its infancy and clouded with risks," it said. "The sudden call to halt the 4,000 megawatt coal-fired power plant project would make it difficult for Italian-Thai to secure strategic partners to help fund the project."It described Dawei Development Co's plans to sell land in the area to raise funds for the project as "optimistic" and stressed that without strategic partners and firm funding, Dawei Development would remain a drag on Italian-Thai's earnings this year.In the year to date, Italian-Thai shares have underperformed those of its peers and the overall market due to uncertainty over the Myanmar project. The stock has risen just 0.1 percent in the past 12 months.Italian-Thai has an "Analyst Revision Score" of 14 under a model by earnings-tracker StarMine which ranks stocks according to changes in analyst sentiment, with 100 representing the highest rank.Kanit Sangsubhan, director of the Thai Finance Ministry's Economic and Financial Research Institute, told Reuters Dawei would need heavy government involvement or state enterprises to co-invest.Whether that will happen is unclear. Than Htay of Myanmar's Energy Ministry said the government wanted to promote more private involvement. "Regarding the petroleum refineries or the downstream plants, now most of the plans will be taken charge of by the private sector. Up to now, I have no plan to participate in that area because I need to mind existing jobs."PTT Exploration and Production Pcl, Thailand's top state-controlled oil and gas explorer, has shown little interest in the project, and neither has its parent, PTT Plc, Thailand's biggest company."It is still very early days on Dawei," said Sean Turnell, an expert on Myanmar's economy at Macquarie University in Sydney, Australia. "They are better off having a special economic zone near Yangon. Dawei mainly benefits Thailand. There are not a lot of benefits to Burma from that one."IN DAWEI, MIXED VIEWSIn Dawei itself, views of the project are mixed.Some such as Hsan Htoo, a 25-year-old high school dropout working on a fishing trawler, hope it can bring jobs to the impoverished area, where many live in thatched-roof huts and many young people have left to work in neighbouring Thailand."I heard that Dawei will create job opportunities for many local people. That would be very good. It would mean that we wouldn't have to leave our homes and work in other countries," he said.Others worry about the potential environmental toll and health risks from a project that would be four times bigger than Thailand's largest industrial estate, Map Ta Phut, where pollution between 1996 and 2009 may have contributed to at least 2,000 cancer-related deaths, according to environmental activists who sought legal action to halt the estate in 2009."It is just not worth it," said Sein Win Aung, a 34-year-old private taxi owner who came out to listen to opposition leader Aung San Suu Kyi address a crowd of thousands in Dawei on Sunday. "We hear about the problems at the industrial estate in Thailand. We don't want those problems here."Some activists visited Map Ta Phut to see the impact first-hand.In a sign of dramatic change in Myanmar, a village advocacy group has been formed to oppose the project. The Dawei Development Group has raised concern that as many as 32,000 people would be displaced in a region known for its pristine coast, groves of coconut palms and plantations of cashews, mango and rubber.Such groups would have been quickly shut down, their leaders arrested, during the half-century of military rule that ended last March when a nominally civilian government took office.Instead, they are now becoming more organised, emboldened by the government's surprise suspension of the $3.6 billion, Chinese-led Myitsone dam project on September 30 following weeks of public outcry."What we want is for the project to be done with transparency. It may ultimately go ahead, but we want to make sure it is done by the rule of law and that environmental assessment studies are carried out," said one senior activist in Yangon who has worked closely with the Dawei Development Group.But Dawei is an economic lifeline for villagers such as Win Aung, a 34-year-old driver for Italian-Thai, one of about 200 of the company's workers in Dawei. He used to work in Thailand, but hated it. He chafed at living away from his family. "I didn't enjoying working there at all. Most of my friends don't enjoy their jobs either but most people have no other choice."He said the project was going ahead, and expects it will eventually transform the isthmus that separates the Andaman Sea from the Gulf of Thailand, strengthening Myanmar's relationship with India, China and Southeast Asia by linking them together in trade.Bulldozers were clearing land, he said. Buildings for offices and staff quarters were being built, but no major construction had begun. Many villagers need to be relocated.Italian-Thai is buying land from the locals but has yet to complete new homes where they would live, he said.He remained optimistic about what it would mean for villagers like him. "It will create many, many job opportunities for local people," he said.(Additional reporting by Aung Hla Tun in Dawei and Khettiya Jittapong and Pisit Changplayngam in Bangkok; Editing by Ed lane)  Copyright 2012 Thomson Reuters UK. All rights reserved. We recommendBasking in the shadows? Regulators are watching youJapan defends stimulus, yen policy under fireMonti needs to go beyond Davos crowd to conquer Italy     Must ReadBritain's economy flirts with "triple dip" recession Britain's EU future elbows out euro woes at Davos Mali Islamists suffer split as Africans prepare assault      Join the ConversationPlease enable JavaScript to view the comments powered by Disqus.                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Myanmar by-elections vital for EU sanctions move - official - IBTimes UK       Skip to Main ContentU.K. Editions Australia EditionChina EditionGermany EditionIndia EditionItaly EditionJapan EditionKorea EditionMexico EditionU.K. EditionU.S. Edition   MobileMost PopularTopics   |   Log In   |   Register Now     The IBTimes UK site uses cookies. By continuing to use this site you agree to our cookie policy. You can view our cookie policy here.       FinanceSEARCH IBTIMES           NewsWorldUKEconomyCompaniesTechSportsLawReal Estate  Featured NewsFA Cup: Leeds vs Tottenham Hotspur PreviewBasking in the shadows? Regulators are watching youLogitech Abandons Console Peripherals In Effort To Cut CostsJapan defends stimulus, yen policy under fireAUD/USD Forecast 28 Jan 13 Hot Topics    MarketsMarket DataGlobal MarketsCommoditiesForexGoldGreen EconomyCFD Centre  Latest HeadlinesThe Bank of Japan Fires a Pop-GunGlobal Smartphone Shipments Breached 700 Million Mark in 2012: ReportChina Imposes Anti-Dumping Duties on US and EU ChemicalsMicrosoft’s Q2 Profits Dip on Windows 8’s Late ResurgenceAustralian Stock Market Report – Afternoon 1/25/2013    Life & StyleArts & DesignLuxury & BrandsFashion & LifeAutos & TrendsTravelHealthEntertainmentEducation  Latest HeadlinesSpeed Trip: Top Athletes, Manny Pacquiao’s Favourite Sports Cars (VIDEOS & PHOTOS)DIY Oscars 2013 Inspired Fashion: Jennifer Lawrence, Naomi Watts, Jessica Chastain [PHOTOS]Manny’s Many Mansions: A Peek at 5 Pacquiao Palaces (VIDEOS & PHOTOS)Qantas, Emirates Alliance Finally Lifts OffTripAdvisor Names Best Hotels in Australia    TopicsTVToolsBlogsBroker CentreWorld Business Headlines        Follow IBTimes        World | UK | Economy | Companies | Tech | Science | Law | Real Estate | Sports | Slideshows | Picture This     Myanmar by-elections vital for EU sanctions move - officialBy Martin PettyFebruary 13, 2012 7:21 AM GMTA top EU official held out the prospect of a further easing of sanctions on Myanmar during a meeting on Monday with a senior member of the new civilian administration and announced increased aid to acknowledge reforms already begun. In a meeting that a handful of journalists were, unusually, allowed to attend, European Commissioner for Development Andris Piebalgs told house speaker Thura Shwe Mann it was important that parliament became an active player in the reform process.The former Burma was ruled by the military for almost 50 years until elections in November 2010, and its new parliament is dominated by military personnel and an army-backed party.But by-elections on April 1 should see more opposition members voted in, including Aung San Suu Kyi, a Nobel Peace laureate and long-time campaigner for democracy.Commissioner Piebalgs noted the European Union had already softened its sanctions."Some restrictions were suspended because we recognised the changes in the country. For this reason the by-elections are a crucial process," he said. Follow us  Follow @IBTimesUKShwe Mann, number three in the former junta and a pivotal figure in the new administration, said he would be happy to see Suu Kyi's National League for Democracy (NLD) in parliament. The party swept a 1990 election but the military ignored the result. It boycotted the 2010 election."We have established a parliament, taking the necessary actions for democracy to thrive in Myanmar. The NLD and other parties, if they win in the by-elections, they can be in parliament. We will welcome them," he told Piebalgs.The European Union and the United States have also said the freeing of political prisoners was crucial to the resumption of full diplomatic and economic links.Last month, the European Union eased sanctions slightly when its Foreign Affairs Council agreed to temporarily lift travel bans on President Thein Sein and top government officials in response to ceasefire deals with ethnic minority rebels and a fourth prisoner amnesty on January 13, when about 300 political detainees were freed.Estimates vary on how many remain behind bars, but Shwe Mann suggested there could be further amnesties after an official review."The remaining political prisoners are those who have committed criminal activities in this country. Those who are on that list, if they have been involved in terrorist activities or harmed the public, they will not be included," he said.STEPPED-UP AIDLater, Piebalgs became the most senior EU representative to meet President Thein Sein.He has announced a 150 million euro (125 million pounds), two-year aid package to help Myanmar reverse decades of stagnation because of international isolation and inept military rule.The European Union is leading the way in trying to support a country badly in need of new infrastructure and health and education facilities. To illustrate the stepped-up commitment, its new aid package is worth almost as much as the 173 million euros it has given the Southeast Asian country since 1996.That aid concentrated on health and education, but the new package also aims to find resources for people displaced by conflict and for agriculture, which provides a living for many of the country's estimated 60 million people.Some diplomats from EU member states believe the bloc will lift more sanctions as the year goes on, moving earlier than the United States, which is also positive about the changes but has a stricter sanctions regime that could take longer to undo.The European Union's annual sanctions review will take place in April, after the April 1 by-elections for 48 legislative assembly seats.The government, which is anxious to see the sanctions scrapped, pulled out all the stops to allow Suu Kyi to run. It hopes her presence will add legitimacy to a parliament that is becoming more vocal but still has only limited powers.Piebalgs will meet Suu Kyi at her home in the former capital, Yangon, on Tuesday."The release of prisoners and, if it ends up being the case, free elections in April, will be used as motivation for the EU to prove that engagement 'works'," said Joakim Kreutz, a researcher at Sweden's Uppsala University and an expert on Myanmar sanctions."I still expect the arms embargo and some personal sanctions on junta veterans to remain, but I would not be surprised if some measures are lifted."Western businesses constrained by the sanctions are quietly showing interest in Myanmar for its natural resources -- oil, gas, timber and gemstones -- and are also looking to invest in tourism, financial services, hotels, telecommunications networks and infrastructure.(Writing by Alan Raybould; Editing by Robert Birsel)  Copyright 2012 Thomson Reuters UK. All rights reserved. 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Burma May Lift Ban on Punk Rock after David Cameron Visit       Go to International Business Times Mainpage  l Skip to Main Content WorldEconomyGlobal MarketsCompaniesTechTravelHealthSportsGreen      The IBTimes UK site uses cookies. By continuing to use this site you agree to our cookie policy. You can view our cookie policy here.      Business & Law News        HomeLaw firm | LawyerBusinessHot IssuesLaw & SocietyTopics     LATEST NEWS  Polish Man Braves Cyclone to Reach Australia on Home-Made Raft FA Cup: Oldham Athletic v Liverpool Preview, Where to Watch Live Mobile Phones Reveal Dirty Secrets of Love Cheats Restaurants Want to Ban 'Food Porn' Photo Sharing FA Cup: Leeds United v Tottenham Hotspur Preview, Where to Watch Live Basking in the shadows? Regulators are watching you Logitech Abandons Console Peripherals In Effort To Cut Costs Japan defends stimulus, yen policy under fire AUD/USD Forecast 28 Jan 13 Seven Die in Egypt Anniversary Protests   Burma May Lift Ban on Punk Rock after David Cameron VisitArticle      Burma May Lift Ban on Punk Rock after David Cameron Visit By Jamie Lewis: Subscribe to Jamie's RSS feed April 13, 2012 5:39 PM GMT  5 picturesStart       David Cameron in Burma: Ludicrous Laws on Punk Rock Could LightenDavid Cameron's historic visit to Burma and his promise of easing sanctions if the regime brings in further political reforms could have unexpected consequences for the country's fledgling punk rock scene.In an effort to attract investment after decades as a pariah state, the repressive Burmese junta may lift some of its more ludicrous laws, such as the ban on punk music.In the West, punk has always been associated with rebellion and anarchy but in Burma, just listening to it could get you arrested.Two punk bands that are tolerated at best are No U Turn and the Rebel Riot who, to their fans, fight the oppressive laws on a daily basis.The Rebel Riot's lyrics are clearly anti-oppression: "No fear! No indecision!/ Rage against the system of the oppressors!" and "We are poor, hungry and have no chance/ Human rights don't apply to us/We are victims, victims, victims."Their shows regularly attract the notice of the police and it is widely believed that punk crowds are heavily laced with police informants.Cameron's visit took place on the day of the Burmese water festival."What I see happening in Burma is a potential flowering of freedom and democracy and I think that from everything I've seen it seems as if the president of Burma is intent on taking a new path and wants to see a progressive flourishing of freedom and democracy," he told students.He was the first British prime minister to visit Burma since the country severed its ties and became independent from Britain in 1948.    Photo:Reuters  Early daysYoung punks during the Burma water festival at a music bar in Yangon    Photo:Reuters  Anger is an energyWhen punk exploded on to the music scene in Britain in 1976 it scared the Establishment. There were unofficial bans and heavy-handed police tactics occasionally but Burma's punks have had to deal with a much more sinister regime.    Photo:REUTERS  Dare to be differentSpiky hair defines the punk image worldwide     Photo:Reuters  Old and newBurma celebrates the New Year Water Festival of Thingyan during the month of Tagu - even at a punk festival in Yangon    Photo:Reuters  Young punk Punk is about fighting repression. Burma's pro-democracy leader Aung San Suu Kyi is a figurehead for many punks in the country.  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Coca-Cola Plans Re-entry in Burma After 60 Years of Absence - IBTimes UK       Skip to Main ContentU.K. Editions Australia EditionChina EditionGermany EditionIndia EditionItaly EditionJapan EditionKorea EditionMexico EditionU.K. EditionU.S. Edition   MobileMost PopularTopics   |   Log In   |   Register Now     The IBTimes UK site uses cookies. By continuing to use this site you agree to our cookie policy. You can view our cookie policy here.       CompaniesSEARCH IBTIMES           NewsWorldUKEconomyCompaniesTechSportsLawReal Estate  Featured NewsFA Cup: Leeds vs Tottenham Hotspur PreviewBasking in the shadows? Regulators are watching youLogitech Abandons Console Peripherals In Effort To Cut CostsJapan defends stimulus, yen policy under fireAUD/USD Forecast 28 Jan 13 Hot Topics    MarketsMarket DataGlobal MarketsCommoditiesForexGoldGreen EconomyCFD Centre  Latest HeadlinesThe Bank of Japan Fires a Pop-GunGlobal Smartphone Shipments Breached 700 Million Mark in 2012: ReportChina Imposes Anti-Dumping Duties on US and EU ChemicalsMicrosoft’s Q2 Profits Dip on Windows 8’s Late ResurgenceAustralian Stock Market Report – Afternoon 1/25/2013    Life & StyleArts & DesignLuxury & BrandsFashion & LifeAutos & TrendsTravelHealthEntertainmentEducation  Latest HeadlinesSpeed Trip: Top Athletes, Manny Pacquiao’s Favourite Sports Cars (VIDEOS & PHOTOS)DIY Oscars 2013 Inspired Fashion: Jennifer Lawrence, Naomi Watts, Jessica Chastain [PHOTOS]Manny’s Many Mansions: A Peek at 5 Pacquiao Palaces (VIDEOS & PHOTOS)Qantas, Emirates Alliance Finally Lifts OffTripAdvisor Names Best Hotels in Australia    TopicsTVToolsBlogsBroker CentreWorld Business Headlines        Follow IBTimes        World | UK | Economy | Companies  Basic Materials | Energy | Finance | Health | Industrials | Retail/Consumer | Services | Telecom | Tech  | Tech | Science | Law | Real Estate | Sports     Coca-Cola Plans Re-entry in Burma After 60 Years of AbsenceCuba and North Korea remain to be the two countries where Coca-Cola has no presence.By Geetha Pillai: Subscribe to Geetha's RSS feed June 15, 2012 9:20 AM GMTSoft-drink maker Coca-Cola plans to return to Burma after a long absence of 60 years, as the US government eased economic sanctions against the Buddhist nation.The Atlanta-based company is planning to make "significant investments" in the next three to five years and is waiting for the necessary approvals from the US government that allows companies to start investments in the Southeast Asian nation. "Coca-Cola's planned entry into Burma, following the suspension of sanctions, will be governed by its well-established global standards for corporate ethics including strict adherence to its global human and workplace rights policy, supplier guiding principles, code of business conduct, and anti-bribery policies," said Coca-Cola in a statement on Thursday.The beverages major is planning to import products from the neighbouring countries as a first step before starting its production facilities in Burma.With its latest entry into Burma, Cuba and North Korea are the other two nations where the company has no presence, said Coca-Cola in the statement.Other corporate majors who have announced their plans to foray into the minerals-rich nation are the London-based WPP, the world's biggest advertising company and India's major automaker, Tata Motors.  General Electric (GE) and Honda Motors also have plans to enter Burma, according to a report by Bloomberg.   Follow us  Follow @IBTimesUKMeanwhile, Burma's pro-democracy leader and Nobel laureate Aung San Suu Kyi appealed for worker's rights during a speech at the International Labour Organisation in Geneva on Thursday and warned against economic development ignoring the rights of labourers. Suu Kyi was released from decades of detention in late 2010. She is due  to accept her 1991Nobel Peace Prize on Saturday in Oslo. The US has eased the economic sanctions on Burma followed by its recent transition to democracy from decades of military rule, which left its 64 million people in isolation and poverty.    This article is copyrighted by IBTimes.co.uk, the business news leader We recommendThe WikiLeaks GiFiles: Coca-Cola Hired Stratfor to Monitor Peta activists at Winter OlympicsCoca Cola Habit Behind New Zealand Woman's Death?Anti-Junk Food Campaigners Launch ‘Super-complaint’ over Ads     Must ReadGoogle Unveils Revamped Image Search With New Metadata Display Jet Airways Shares Gain on Etihad Deal Speculation Apple Admits to Child Labour in iPhone, Mac Supply Chains      Join the ConversationPlease enable JavaScript to view the comments powered by Disqus.                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Bringing Burma Along Jump to Navigation U.S. EDITION        Australia EditionChina EditionGermany EditionIndia EditionItaly EditionKorea EditionJapan EditionMexico EditionU.K. EditionU.S. Edition      IBT.com   LOGINREGISTER          PoliticsEconomyMarkets / FinanceCompaniesTech / SciMedia & CultureSportsOpinionTV       OpinionBringing Burma Along  Opinion TEXT SIZE:A A A                      MORE+          BY Amanda Sawit | October 15 2012 11:27 AM  Recent back-to-back visits to the United States by the top two leaders of Myanmar (better known as Burma) -- opposition leader Aung San Suu Kyi and current President Thein Sein -- have brought the Southeast Asian nation back into the international spotlight. They have also underscored the need for U.S. engagement as a bulwark against the economic uncertainty, ethnic tensions and civil unrest that continue to plague Burma's exceedingly fragile evolution.       (Photo: Reuters) Leader of the Burmese opposition party National League for Democracy met with U.S. President Barack Obama on Wednesday in the White House.     Sponsorship Link  Washington has been an energetic proponent of Burma’s political transformation for some time now. Most visibly, Secretary of State Hillary Clinton made a landmark visit to the country in 2011, during which she committed the U.S. to an “action-for-action” strategy; as Burma continued to enact political reforms, the U.S. would reciprocate with economic aid and the easing of sanctions. But in the months since Clinton’s visit, it has become clear that Burma's democratic transition, while proceeding cautiously, still rests on shaky ground.This summer, riots erupted in Rakhine state, fuelled by tensions between Burmese Buddhists and minority ethnic Rohingya Muslims. The Rohingyas’ plight sparked outcry from the international community, with some accusing Burmese authorities of carrying out violent and systematic discrimination -- with devastating results. Conservative estimates put the death toll from the conflict in the hundreds, while the United Nations projects that some 90,000 people were displaced.   The outbreak of violence prompted heightened international scrutiny of the new Burmese government, revealing in the process that its two most prominent achievements to date -- the abolition of press censorship and the release of political prisoners -- remain very much works in progress.Still, some halting forward momentum is visible. The Burmese government deserves credit for freeing some 500 prisoners in recent weeks in a move that neatly coincided with its president’s trip to the U.S. Yet only 88 of these were political prisoners, and even those were granted “provisional freedom,” according to a report by Human Rights Watch. (More depressingly, the report goes on to highlight how “freed dissidents” are still barred access to movement, education and psychological treatment for their prison-induced trauma.)Similarly, in August, the Thien government abolished the law requiring reporters to submit their work to state censors before publication. The elimination of this 50-year-old “tradition” was hailed by outside observers as a substantive sign of progress. However, the BBC reports that a series of laws untouched by the reforms could still be used to prosecute journalists for their writing, and editors are still under pressure to keep content “legal.” Nevertheless, publications covering less sensitive issues are now allowed to print without prior review, and thousands of Internet web sites are accessible to users, permitting political content for the first time -- changes that would have been unthinkable under military rule.These developments are modest, to be sure, but they demonstrate that some genuine progress indeed has been made in recent times in peeling back the layers of historic autocratic governance. At the same time, they underscore that Burma's transition to democracy remains both tenuous and reversible. As the U.S. begins to ease Burma’s diplomatic isolation, it must stay focused on two complementary goals. The first has to do with bolstering the country’s struggling economy. The second deals with defending the human rights of minorities and political opponents.These issue are organically linked. In her recent trip to Washington DC, Aung San Suu Kyi, herself a long-time political dissident, made that point when she said she favored a speedy move toward normalization of commercial relations. The Obama administration responded the same week, lifting an import ban on Burmese products, and is now working with Congress to pass a waiver that will dilute or remove the bulk of remaining sanctions.It's a good start. Burma is one of the poorest countries in Southeast Asia, with 26 percent of the population living below the poverty line, according to UN statistics. Lifting investment sanctions and import bans will create desperately needed jobs in Burma and diversify the economy away from its current, unhealthy dependence on energy exports. Nothing can ease the rocky transition from autocracy to democracy more effectively than economic growth, and nothing can undermine a newly elected government like a faltering economy. International actors are increasingly taking notice as well. The European Union recently eased its own sanctions on Burma in response to improving working conditions there; India, meanwhile, is eyeing the country’s natural gas reserves, hoping to make up economic ground lost to China during Burma's years of isolation. This kind of economic competition is healthy, insofar as its logical outcome is a more prosperous and liberalizing Burma. But it also carries the risk of political backsliding, especially if Burmese authorities are tempted to revert back to authoritarianism as economic stability strengthens.Washington's biggest contribution to Burma's progress, then, isn't simply to remain engaged on the economic and political fronts. It is also to make sure that progress on the former doesn't come at the expense of the latter. Amanda Sawit is a researcher at the American Foreign Policy Council in Washington, DC.     More in Opinion Stan Musial: The Vanishing ‘Greatest Generation’   Does America Know Its Own Best Interests?   Who Is Giovanna Plowman; Why Would She Make That Video?    Clinton's Benghazi Testimony Makes Case For More Security      View the discussion thread.     In Depth  NY Longshoremen's Strike: Could This Be A Fight That Labor Can Win?   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The Government-Created Superstorm  MORE IN Opinion Analysis Columns Editorials Op / Ed ExpertNetwork SportsNet     Rare Princess Diana Photo Sells At Auction  Anti-Mursi Protests Rage In Cairo  Dolphin Stuck In New York Canal  1794 U.S. Silver Dollar Sells For Record $10M  Iraqi Troops Kill Sunni Protesters   UN Honors Holocaust Victims       The World In Your Inbox: Sign Up For Our Morning Insight Newsletter               Burma’s Economy Can Triple by 2030: ADB | The Irrawaddy Magazine BURMESE VERSION |BLOG | VIDEO |              HOMEBURMAASIABUSINESSOPINIONFEATUREINTERVIEWCARTOONSPORTSMULTIMEDIAARCHIVES    <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=abf92dac&cb=122625858' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=33&cb=2129499520&n=abf92dac' border='0' alt='' /></a>   BURMABurma’s Economy Can Triple by 2030: ADB By SIMON ROUGHNEEN / THE IRRAWADDY|  August 21, 2012 |  3       Ships docked in Rangoon. (Photo: Steve Tickner / The Irrawaddy)  BANGKOK—Burma’s economy can triple in size by 2030 and make up some ground lost to wealthier neighbors, say analysts, if sufficient reforms are undertaken in the coming years.A year of politically-focused changes such as releasing political prisoners, and the Monday ending of pre-publication censorship for the country’s media, will be followed by a series of economic reforms, the Burmese government says, with new foreign investment regulations likely to be passed into law in coming weeks.If the reforms stay on track, the Asian Development Bank (ADB) believes that Burma can attain “middle income” economic status by 2030, saying that the economy has the potential to grow by seven-to-eight percent per annum in the intervening years.The World Bank defines a middle income country as one with a per capita GDP of US $1,025—a status long-attained by neighbors such as Thailand, Malaysia and more recently Vietnam, which launched its economic glasnost in 1986.“I underscore the word potential as there are a lot of challenges that the country faces,” said Stephen Groff, ADB vice-president, speaking at the launch of the bank’s report on the Burma economy at the Foreign Correspondents Club in Bangkok on Monday.Sixty-six percent of the population lives in the countryside, according to 2010 World Bank numbers, and if Burma’s economic reforms are to improve lives outside towns and cities, better living and working conditions for the country’s rural poor will be key.To reach its potential level of prosperity, “[Burma] need to maintain macro-economic stability, they need to keep inflation low and under control,” Groff said during a recent video interview. “They need to keep sustainable and realistic budgets in place.”Farming in Burma remains antiquated, say those involved in the country’s agriculture sector. Aung Zaw Oo, joint-secretary of the Myanmar Rice Industry Association said that “we need to improve the awareness and the access to technology for farmers. We harvest in Myanmar manually.” Burma was the world’s biggest rice exporter until the 1960s, and plans to quadruple rice exports from last year’s 778,000 metric tons by 2015.Better working conditions for farmers are hampered by Burma’s poor infrastructure, with rural roads often little more than dirt-tracks and electricity rare-to-absent in many areas of the country, particularly in ethnic minority regions bordering Thailand, China and India. Power shortages earlier this year prompted widespread candle-lit protests in Burma’s towns and cities, despite the country being rich in natural resources.Banks too are scarce, says Groff, contributing to a lack of available credit for people hoping to improve their farms.Dr. Sean Turnell, an authority on the Burmese economy based at Australia’s Macquarie University, said financial insecurity is hampering many of the country’s millions of farmers. “The rural indebtedness situation in Burma is terrible,” he said. “In the absence of formal credit they fall into the hands of moneylenders, paying interest of 10 percent per month.”However, Burma’s young population—an estimated 25 percent of which is under 30 years of age—could be an economic asset going forward, if opportunities come their way. “Whether the youth population turns to a demographic dividend or curse depends on the government,” said Cyn-Young Park, an ADB economist, referring to the need for greater investment in education, health and infrastructure.Harnessing Burma’s young population—and ensuring that the country’s political opening does not result in public disenchantment—means helping millions to find jobs. With a new foreign investment law set to be enacted during the current Parliament sitting, there are high hopes that foreign companies will find Burma’s low wage economy attractive.However, about three-quarters of the foreign investment into Burma to date has been in oil and gas, says the ADB, which are sectors that do not create much local employment.After meeting Burma’s opposition leader and recently-elected parliamentarian Aung San Suu Kyi in Naypyidaw over the weekend, Stephen Groff said that “she feels strongly that jobs and job creation are crucial,” echoing comments made by Burmese officials speaking at the World Economic Forum in Bangkok in June.The ADB halted its operations in Burma in 1988 but re-established an office on Aug. 1 at Rangoon’s Inya Lake Hotel.Related Posts :Burma Business Roundup (Saturday, Jan. 26)Burmese Ex-Telecoms Minister Faces Graft ProbeRangoon to Get New Housing ProjectBurma's Mobile Market Set to ExpandBurma Still an ‘Extreme Risk’ for Investors Despite Reforms   3 Responses to Burma’s Economy Can Triple by 2030: ADB  Ohn  August 21, 2012 - 5:38 am  What is it there that is so wonderful about getting money for selling out a country at a strategic position rich in fertile soil, forest, plentiful coastal line and gems and minerals?Plenty of youth, endearingly called by their own dear “Mother Suu” as “time-bombs”, could of course be one-dollar human garbage in SEZ’s as unprotected, slavery from 7 to 11 (that is 11pm) in lovely Chinese, Korean and Thai sweatshops.Farmers are likely to lose their land to money men for near future massive mechanization to become the “Biggest Rice Exporter of the World” like good old golden times. Wonderful times, except for the landless farmers ending up in fire-risk factories of the future making soup and socks living n cramped soiled rooms watching re-runs of “Friends”. Reply    Khin Win Kyi  August 21, 2012 - 6:25 am  Our neighbors will be at the level of the Western Countries in 30 years and Myanmar will still be much behind. So, Thein Sein needs a lot to do today to catch up a lot faster. The government cannot afford to drag its feet. Since 1962, Myanmar went backward while Singapore, Malaysia and Thailand went forward. Even Vietnam has been tying to catch up since ten years ago and Vietnam is now blooming. Lets go U Thein Sein. Reply    myo nyunt  August 21, 2012 - 9:41 am  Myanmar economy can easily achieve a GDP growth rate ranging from 7 to 8 percent in the coming decades. But the acid test is ” how to minimise the increasing wealth concentration by the few and reduce the income disparities between urban and rural areas’. As population growth rate of Myanmar has been projected as between 1.91 and 2.1 percent, unless its per capita income growth is greater than say 2.5 percent or more in the coming decades economic well being of the majority of Myanmar people is doubtful. Reply    Cancel Reply  Viagra Canadian pharmacy dosage. Top quality Canadian drugs at discount prices.   Latest uverse coupon code at CouponSnapshot.com   Get great dresses deals at dressale.com   face cream   High quality dresses low prices at Vicyc.com   cheap wedding dresses   Indian consumer forum Bad Credit Cardsterm life insuranceMeizitang Botanical Slimming Soft GelRare Earths Lynas Corporationantoun sehnaoui   เบอร์สวย-เบอร์มงคล  skincare for men  international dating  cheap wedding dresses  Online Shopping  trade copier  for mt4 platform     cheap prom dresses           Limo Service Toronto      Expert Advisor - MT4 Expert Advisors Collection    Online Shopping  how to get your ex back           <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=a61808f7&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=34&cb=INSERT_RANDOM_NUMBER_HERE&n=a61808f7' border='0' alt='' /></a>   <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=af9915fe&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=31&cb=INSERT_RANDOM_NUMBER_HERE&n=af9915fe' border='0' alt='' /></a>  MORE ARTICLES IN THIS SECTION US Announces End of Resettlement Program  Activists Decry MP’s Comment on Kachin Conflict  USDP Demands Loans Back from Poor Farmers  In Kachin, Civilians Fall Victim to a Hidden Danger  Burmese Ex-Telecoms Minister Faces Graft Probe  Disease Spreads among Displaced Kachin Children  What Did KNU Leaders Gain by Going to Naypyidaw?  Child Soldiers Forced to Fight in Burma’s Kachin Conflict       DHgate Wholesale Central           <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=a9d9d6b2&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=26&cb=INSERT_RANDOM_NUMBER_HERE&n=a9d9d6b2' border='0' alt='' /></a>  Code of EthicPrivacyCopyrightRSSFacebookTwitterContact UsAbout UsWork for UsIrrawaddy StorePhoto StoreDonation        Copyright (c) 2008 Irrawaddy Publishing Group. All Rights Reserved ลดน้ำหนัก | วิธีลดความอ้วน | ue7.net | rod iron sbobet ibcbet m88 gentingclub holidaypalace holidaypalace ibcbet m88a แทงบอลออนไลน์ แทงบอลออนไลน์ sbobet sbobet sbo ibcbet 7m sbobet sbobet m88 m88 dafabet            Environmental Crises Threaten Burma’s Economy | The Irrawaddy Magazine BURMESE VERSION |BLOG | VIDEO |              HOMEBURMAASIABUSINESSOPINIONFEATUREINTERVIEWCARTOONSPORTSMULTIMEDIAARCHIVES    <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=abf92dac&cb=1510350399' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=33&cb=1546118860&n=abf92dac' border='0' alt='' /></a>   BUSINESSEnvironmental Crises Threaten Burma’s Economy By WILLIAM BOOT / THE IRRAWADDY|  August 21, 2012 |  4       A girl carries a basin on her head near a cyclone shelter outside Pyar Pon Township in 2010. (Photo: Reuters)  As Burma attempts to rebuild after the decades of neglect, two studies warn that the country also needs to build defenses against natural disasters like Cyclone Nargis and guard against environmental calamities.Burma is one of several countries in Southeast Asia at risk of serious environmental crises devastating their economies, says business risk assessor Maplecroft.Ten nations in Asia—including neighbors Bangladesh and India—were identified as having little capacity to withstand natural disasters.“High exposure to natural hazards in these countries are compounded by a lack of resilience to combat the effects of a disaster should one emerge,” said UK-based Maplecroft.Burma is one of the countries with “the greatest proportion of their economic output exposed to natural hazards,” according to the study.“In addition, they also demonstrate poor capability to recover from a significant event exposing investments in those countries to risk of supply chain and market disruptions,” said Maplecroft. “This could lead to sizable business interruption costs, in addition to material damage to essential infrastructure.”In a separate study, the Asian Development Bank (ADB) warns that East Asian countries must act now to avert natural disasters engulfing their mushrooming urban populations by adopting more renewable energy systems and clean-air technologies.Asia is urbanizing at a faster rate than anywhere else and is now home to almost half the world’s city dwellers. By 2020, it will have 21 of the world’s 37 megacities and over the next 30 years another 1.1 billion people are forecast to be living in metropolises, said the ADB study.“The region will be confronted with even greater environmental challenges that are already serious, including air pollution, congestion, carbon dioxide emissions, deprivation in water and basic sanitation, plus growing vulnerability to natural disasters,” said the ADB.Just as Burma seeks to emerge from dilapidated isolation and encourage investment in new infrastructure for electricity generation and transport to catch up with other Southeast Asian countries, the ADB warns that many “sophisticated” cities in the region face a decline in living standards due to air pollution caused by excessive traffic, industry and coal-burning power plants.“Particularly disturbing are urban carbon dioxide emissions, which if left unchecked under a business-as-usual scenario could reach 10.2 metric tons per capita by 2050, a level which would have disastrous consequences for both Asia and the rest of the world,” said the report.To avoid a decline in living standards and health as well as avert urban disasters, Asia must follow a green urbanization path to “promote the use of new technologies and renewable energy,” the ADB said.“Asia must incorporate environmental priorities in city planning. This is underway through building new and satellite cities with renewables as primary energy sources, as piloted in [China],” the ADB said.The natural disaster risks faced by Asian countries are made worse by their economic fragility, said Maplecroft.“Some of the highest risk countries have substantial economic outputs, but they are fuelled by large, poor populations, many of which live on marginal land such as flood plains, leaving constituent workforces at heightened risk and without the necessary resources to re-establish themselves in the aftermath of an event.”Burma’s worst natural disaster, Cyclone Nargis, only occurred in May 2008. It killed at least 138,000 people and caused devastation in the Irrawaddy Delta region which has still not yet fully recovered.Without infrastructure in place to respond to similar calamities, Burma’s ambition to become a major rice producer and exporter remains in serious jeopardy, the studies’ researchers say.Maplecroft highlighted that even Burma’s more developed neighbor Thailand suffered serious financial losses and disruption when severe flooding inundated both industrial zones and rice paddy around Bangkok in 2011.The flooding reduced Thailand’s GDP by nine percent and the economy is still suffering one year on.“The floods also affected the operations and supply chains of multinational companies, with the automotive industry and ICT sectors hardest hit—manufacturers of hard-drives were only able to meet two-thirds of demand in the final quarter of 2011, pushing prices up by up to 55 percent,” Maplecroft cited as an example of the knock-on effects of natural disasters.“The test for emerging and developing economies is to build a stronger capacity to meet the challenge of hazard-prone environments,” said Maplecroft’s Helen Hodge. “Failure to do so will risk their ambitious economic growth when the inevitable natural hazards strike.”The ADB suggests that Burma is ideally positioned to benefit from the mistakes made by more advanced economies in Southeast Asia where “breakneck expansion has been accompanied by a sharp rise in pollution, slums and widening economic and social inequalities which are causing rapid environmental degradation.”So with the advantage of hindsight, Burma is in a position where it could avoid these problems by directing measured and sustainable development. The bank’s report urges governments to invest in less polluting technology and infrastructure and to focus on energy-efficient urban buildings to reduce electricity demand.“For urbanization to be not only green but inclusive, policymakers need to promote climate-resilient cities, in order to prevent disasters like the 2011 Bangkok floods,” says the ADB.The report recommends that governments should promote climate change-resilient cities—including building homes in safe areas, make housing affordable for the poor and investing in drainage infrastructure and weather forecast technology.The speed of urbanization in Asia—a problem which seems certain to confront Burma as investment flows into Rangoon and Mandalay—shows no sign of slowing. Within the next 20 years another 110 million people will be living in cities across the region at risk of flooding, raising the total in danger to 410 million people.“Asia has seen unprecedented urban population growth but this has been accompanied by immense stress on the environment,” said the bank’s Chief Economist Changyong Rhee. “The challenge now is to put in place policies which will reverse that trend and facilitate the development of green technology and green urbanization.”Related Posts :Burmese Magazine License Pulled for Sexual ContentChinese Prospectors Stake a Claim in Arakan StateTake Me to the River: In Southeast Asia, Art Turns an Eye to the WaterPoverty and Plenty in Burma's Arid HeartlandCoal, Rivers, Gas and Hot Rocks   6 Responses to Environmental Crises Threaten Burma’s Economy  Moe Aung  August 21, 2012 - 10:39 pm  Burma after all these decades in limbo has the advantage of the Irish joke “If I were you I wouldn’t start from here”.Whether the govt will take it all on board the good advice, timely warnings and cautionary tales or not is quite another matter. Depends if the real agenda is making a quick buck or the long term national interest. I wouldn’t hold my breath. Reply    Mualcin  August 22, 2012 - 12:42 am  When we can vote and elect the best candidates for President and Vice President, we will have a secure and stable life in our country. Today’s President and Vice Presidents are not the real chosen leaders as the whole world knows it. Campaigns, debates and screening were not done through public opinion in the last so called election. USDP used State Funds, and dead or alive, they were determined to hold power. Thein Sein is not the best/smartest man Burma has today for President. He was sent to the Presidency by Than Shwe. So, he will not be the President from 2015. Period. We will have elected the right persons to lead our Union and we will clean up the House. The truly elected Representatives will serve us as we want them to serve us. Reply    Ohn  August 22, 2012 - 2:08 am  “Asia has seen unprecedented urban population growth but this has been accompanied by immense stress on the environment,” said the bank’s Chief Economist Changyong Rhee. “The challenge now is to put in place policies which will reverse that trend and facilitate the development of green technology and green urbanization.”Human permanently stuck in a 5-year-old mentality cannot possibly stop their desire to have flat, concrete pavements and long-straight roads, as well as SUV’s, Karaoke, drink, drug and brothels that go along with that. Only much later people will start to try pathetically and unsuccessfully to reverse the trend when there is nothing left to preserve. Current Thailand and Cambodia are cases in points. But the Burmese drools every night for them. Cars, buildings, Sky-trains, Karaoke bars, McDonald. For their pathetic minds those are Nivana. Even monks preach as such. Oh- foreign travels.It is a shame as there is currently wonderful environment and lovely social cohesiveness that can still be kept. But no. those will be gone soon with the arrivals of the multinationals and then people will start to look for then, in vain.http://www.dictatorwatch.org/articles/monkeypaw.pdf Reply    Terry Evans  August 22, 2012 - 9:22 am  A healthy environment is essential for sustainable development. This means that rapid economic growth must build in effective environmental safeguards. Otherwise, economic gains may be short-lived – being undermined by the loss of valuable ecosystem services and costly ecological disasters. Reply    John Allan  August 22, 2012 - 1:40 pm  Last year’s flooding in Thailand was less a natural disaster, than one manufactured by government mismanagement, compounded by incompetence in dealing with the aftermath, and in mitigating the effects. Reply    sophia  August 23, 2012 - 4:03 am  IF we want to see developing world . The first thing we need to do is to figure out what is happening now.So what we are happening . Surely , environment problem is the most that sabotage our development plan . So why don’t we conserve our environment ? if we don’t protect our nature environment Imagine ,we were sailing a boat without preparing the hole . The sure thing is that the boat will sink sooner or later. Have we noticed that the cost of rehabilitation for nature disaster is more cost than urbanization . It is vain lack of conservation the natural environment .we are like foolish children who buy the luxury thing neglecting the hungry parent. Reply    Cancel Reply  Viagra Canadian pharmacy dosage. Top quality Canadian drugs at discount prices.   Latest uverse coupon code at CouponSnapshot.com   Get great dresses deals at dressale.com   face cream   High quality dresses low prices at Vicyc.com   cheap wedding dresses   Indian consumer forum Bad Credit Cardsterm life insuranceMeizitang Botanical Slimming Soft GelRare Earths Lynas Corporationantoun sehnaoui   เบอร์สวย-เบอร์มงคล  skincare for men  international dating  cheap wedding dresses  Online Shopping  trade copier  for mt4 platform     cheap prom dresses           Limo Service Toronto      Expert Advisor - MT4 Expert Advisors Collection    Online Shopping  how to get your ex back           <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=a61808f7&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=34&cb=INSERT_RANDOM_NUMBER_HERE&n=a61808f7' border='0' alt='' /></a>   <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=af9915fe&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=31&cb=INSERT_RANDOM_NUMBER_HERE&n=af9915fe' border='0' alt='' /></a>  MORE ARTICLES IN THIS SECTION Burma Business Roundup (Saturday, Jan. 26)  Rangoon to Get New Housing Project  Kachin Conflict Shows China’s Business Dilemma in Burma  Burma’s Mobile Market Set to Expand  Burma Business Roundup (Saturday, Jan. 19)  Burma Still an ‘Extreme Risk’ for Investors Despite Reforms  Four Int’l Business Conferences Planned in Rangoon  Western Union Launches Partnership with Burmese Banks       DHgate Wholesale Central           <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=a9d9d6b2&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=26&cb=INSERT_RANDOM_NUMBER_HERE&n=a9d9d6b2' border='0' alt='' /></a>  Code of EthicPrivacyCopyrightRSSFacebookTwitterContact UsAbout UsWork for UsIrrawaddy StorePhoto StoreDonation           Copyright (c) 2008 Irrawaddy Publishing Group. All Rights Reserved ลดน้ำหนัก | วิธีลดความอ้วน | ue7.net | rod iron sbobet ibcbet m88 gentingclub holidaypalace holidaypalace ibcbet m88a แทงบอลออนไลน์ แทงบอลออนไลน์ sbobet sbobet sbo ibcbet 7m sbobet sbobet m88 m88 dafabet            Burmese Govt Warns Public about Dodgy Investments | The Irrawaddy Magazine BURMESE VERSION |BLOG | VIDEO |              HOMEBURMAASIABUSINESSOPINIONFEATUREINTERVIEWCARTOONSPORTSMULTIMEDIAARCHIVES    <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=abf92dac&cb=2097193841' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=33&cb=1203067370&n=abf92dac' border='0' alt='' /></a>   BUSINESSBurmese Govt Warns Public about Dodgy Investments By THA LUN ZAUNG HTET/ THE IRRAWADDY|  October 18, 2012 |  4       In the 2000 Hollywood movie, Boiler Room, Vin Diesel leads a team of ambitious brokers who sell fictitious stocks and defraud all their clients. (PHOTO: www.imdb.com)  Certain domestic companies with foreign ties have been advertising themselves to the public as investment banks, however they do not have licenses to operate and therefore their activities are illegal,  Burma’s Ministry of Finance and Revenue (MFR) has warned.Dr. Maung Maung Thein, the MFR deputy minister, did not mention by name the companies he was referring to, but said that they had been guilty of advertising via the media and the Internet to act as investment banks and had falsely claimed that they had government permission to conduct financial affairs in Burma.“A couple of companies with foreign connections have been advertising in the media and stating that they have already obtained permits to conduct investment banking [in Burma],” he said. “There have also been reports that those companies have been sending out emails inviting the public to invest through them.“No foreign institution has yet been given license to operate inside Burma. They are not even allowed to open offices in this country,” he said.According to the Myanmar Monetary Organizations Law, anyone involved in financial activities without official permission shall be subject to a 50,000 kyat [US $60] fine, a five-year imprisonment or both.The MFR deputy minister added that the general public must be wary of monetary organizations such as the cooperative credit societies which deceived people in the past and left behind many bitter memories.“Some monetary and financial organizations can be very deceitful,” he continued. “They promise substantial interest and dividends to those who invest with them. Many people do. Then, the firms take all the money and run away.”Thet Htun Oo, the senior manager at Myanmar Securities Exchange Centre, suggested that people should invest money or buy shares only after they have made proper inquiries, and be especially vigilant as to the background of the company they are dealing with.According to Dr. Aung Ko Ko, a Burmese economist living inside Burma, the government’s monetary policy and the Central Bank’s monitoring of financial organizations are important for the economic development of Burma and the stability of the currency.Related Posts :Burma Business Roundup (Saturday, Jan. 26)Burmese Ex-Telecoms Minister Faces Graft ProbeRangoon to Get New Housing ProjectBurma's Mobile Market Set to ExpandBurma Still an ‘Extreme Risk’ for Investors Despite Reforms   2 Responses to Burmese Govt Warns Public about Dodgy Investments  Tharlikar  October 18, 2012 - 5:35 pm  This is lawless country hyped up to no end by the “Democracies” for their own agenda with totally clueless “Mother and Father” of the nation. People are simply preys for any carpet baggers and conmen with no recourse for justice.Guess what? This is just the beginning! Reply    Joe 2  November 14, 2012 - 7:40 am  Be careful to do business only with  genuine relatives and cronies of high ranking army personnel so that they may continue to control the Burmese economy and purchase even  property in Singapore, Hong Kong and London. Oh, and Ferraris for their children to crash while drunk. Reply    Cancel Reply  Viagra Canadian pharmacy dosage. Top quality Canadian drugs at discount prices.   Latest uverse coupon code at CouponSnapshot.com   Get great dresses deals at dressale.com   face cream   High quality dresses low prices at Vicyc.com   cheap wedding dresses   Indian consumer forum Bad Credit Cardsterm life insuranceMeizitang Botanical Slimming Soft GelRare Earths Lynas Corporationantoun sehnaoui   เบอร์สวย-เบอร์มงคล  skincare for men  international dating  cheap wedding dresses  Online Shopping  trade copier  for mt4 platform     cheap prom dresses           Limo Service Toronto      Expert Advisor - MT4 Expert Advisors Collection    Online Shopping  how to get your ex back           <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=a61808f7&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=34&cb=INSERT_RANDOM_NUMBER_HERE&n=a61808f7' border='0' alt='' /></a>   <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=af9915fe&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=31&cb=INSERT_RANDOM_NUMBER_HERE&n=af9915fe' border='0' alt='' /></a>  MORE ARTICLES IN THIS SECTION Burma Business Roundup (Saturday, Jan. 26)  Rangoon to Get New Housing Project  Kachin Conflict Shows China’s Business Dilemma in Burma  Burma’s Mobile Market Set to Expand  Burma Business Roundup (Saturday, Jan. 19)  Burma Still an ‘Extreme Risk’ for Investors Despite Reforms  Four Int’l Business Conferences Planned in Rangoon  Western Union Launches Partnership with Burmese Banks       DHgate Wholesale Central           <a href='http://ox.irrawaddy.org/openx/www/delivery/ck.php?n=a9d9d6b2&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='http://ox.irrawaddy.org/openx/www/delivery/avw.php?zoneid=26&cb=INSERT_RANDOM_NUMBER_HERE&n=a9d9d6b2' border='0' alt='' /></a>  Code of EthicPrivacyCopyrightRSSFacebookTwitterContact UsAbout UsWork for UsIrrawaddy StorePhoto StoreDonation       Copyright (c) 2008 Irrawaddy Publishing Group. 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Jim Webb (D-Va.) said in a letter to The Post a couple of months ago that “without the intense efforts initiated from my office, including my groundbreaking visit to Burma in 2009, many of the democratic advances in Burma (also known as Myanmar) would not have taken place.”  Loading...CommentsWeigh InCorrections?          Personal Post  Washington Post Editorials Editorials represent the views of The Washington Post as an institution, as determined through debate among members of the editorial board. News reporters and editors never contribute to editorial board discussions, and editorial board members don’t have any role in news coverage. Read more  Latest EditorialsA charge of murder Editorial Board A Manassas man is arrested in his son’s death, but questions remain for Montgomery officials.  Dangerous waters in the Pacific Editorial Board Japan and China ratchet up a dispute over a group of islands.  Fallen warriors Editorial Board The military must do more to understand why its troops are committing suicide.        Secretary of State Hillary Rodham Clinton, speaking on Sept. 19 as Burma’s democracy leader Aung San Suu Kyi won the Congressional Gold Medal, recounted her formulation of “a new approach that the United States might take to try to see if there were any ways to help move a transition forward. . . . And slowly, change started.”We suppose the more parents of this incomplete but encouraging reform process, the better, if those parents feel invested in helping to keep reform on track.But before history gets totally rewritten, it’s worth making a couple of points. One is that generals and ex-generals still run Burma, as generals have been running Burma for the past half-century. The stirrings of reform that have allowed Aung San Suu Kyi to travel and that prompted the United States to lift pretty much the last of its economic sanctions last week, are only that: stirrings. There is no rule of law, no independent judiciary. Aung San Suu Kyi now sits in parliament but as part of a small minority.The second point is that, given the opacity of the regime, no outsider can be sure what prompted it to reach out to the democratic opposition at this moment. We would defer to Aung San Suu Kyi’s version of history, which gives a big dollop of credit to the economic sanctions that the United States and other nations imposed years ago.“Sanctions have helped,” Aung San Suu Kyi said during a recent visit to The Post. “Some people may disagree, but I believe sanctions have helped, especially on the political front. . . . The very fact that there’s a strong desire to have sanctions limited shows they were effective.” Interestingly, Aung San Suu Kyi said that she did not believe the sanctions affected Burma’s economy all that much; for the nation’s poverty, she blamed “internal factors,” which she did not name. But the isolation had a big political impact — worth recalling the next time foreign policy experts say, as they did so often in Burma’s case, that sanctions can never work, or can only work if they are applied with 100 percent effectiveness, or will harm only the nation’s poorest people.It seems likely that China’s increasing assertiveness made Burma’s leaders nervous, as it has made nervous the leaders of most East Asian and Southeast Asian countries. Thanks to strict sanctions, Burma’s leaders understood that, if they were to entice the West to play a balancing role, they would have to improve their human rights record. They may also have been motivated by a desire to improve the lot of their people, as Aung San Suu Kyi charitably suggested (though we can’t help noting that their people’s poverty hadn’t seemed to weigh on them much in preceding years). And they may indeed have been encouraged by the Obama administration’s engagement policy, which let them know that risks for reform would be reciprocated. More on this debate: The Post’s View: What Aung San Suu Kyi could teach President Obama and Mitt Romney Fred Hiatt: Burma’s champion comes to Washington Jonathan Capehart: Lunch with Aung San Suu Kyi Fred Hiatt: Learning compromise from Chief Justice Roberts and Aung San Suu Kyi        EmailTumblrRedditStumbleuponDiggDelicious       Discussion Policy   | FAQ   | About Discussions  Loading...Comments Add your comment   Read what others are saying About Badges    SuperFan BadgeSuperFan badge holders consistently post smart, timely comments about Washington area sports and teams.More about badges | Request a badge Culture Connoisseur BadgeCulture Connoisseurs consistently offer thought-provoking, timely comments on the arts, lifestyle and entertainment.More about badges | Request a badge Fact Checker BadgeFact Checkers contribute questions, information and facts to The Fact Checker.More about badges | Request a badge Washingtologist BadgeWashingtologists consistently post thought-provoking, timely comments on events, communities, and trends in the Washington area.More about badges | Request a badge Post Writer BadgeThis commenter is a Washington Post editor, reporter or producer. 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Will it become Asia’s new economic tiger or remain isolated from the global economy?   All eyes are on Burma’s elections on April 1, a test of its commitment to democratic reform. The quicker the government can reform, the quicker the U.S. and EU sanctions might ease and the quicker its growth will accelerate.These are the first elections for more than twenty years to include opposition party the National League for Democracy, led by Aung Sang Suu Kyi. The U.S. has already started restoring full diplomatic relations with Burma, in recognition of its ongoing political reforms. As U.N. Secretary General Ban Ki-moon said last week, Burmais giving “a strong sense of hope and expectation for the international community.”The unleashing of Burma’s economy could boost regional growth and intra-ASEAN trade and investment. As it is, Burma’s GDP growth rate is projected to average around 6 per cent per year until 2020, with GDP doubling to $124 billion by 2020, according to IHS Global Insight forecasts.The domestic consumer market is expected to grow rapidly, creating a fast-growing market for exports of goods and services from other ASEAN countries. Burma’s population is, after all, the fourth largest in ASEAN, at around 50 million people.But the pace of Burma’s economic growth could be even faster if driven by more rapid economic reforms. A key risk to this more rapid growth would be rising inflationary pressures, as rapid growth and investment creates supply bottlenecks and wage pressures. Inflation is already estimated to have averaged around 9 percent in 2011, and is forecast to average around 10 percent in 2012.Burma, like other ASEAN countries, has agreed to the tariff liberalization timetable under the ASEAN Free Trade Area agreement. From an economic perspective, Burma’s economic reforms and tariff liberalization will be important to ASEAN’s objective to create a single market for trade in goods by 2015.Still, there are several important steps ahead for Burma.A key macroeconomic reform will be the planned implementation of a unified exchange rate from April 1, as Burma moves to a managed float that will help to reduce market distortions and boost export competitiveness.Burma’s draft investment bill could accelerate investment, with provisions for a five-year tax holiday for foreign investors, 100 percent profit repatriation allowances, and government guarantees against nationalization.Other key features include foreigners having the right to lease land; foreigners no longer needing a local partner to set up businesses; and joint ventures could be set up with at least 35 percent foreign capital participation. Unskilled labour employed by foreign companies would have to be 100 percent local, while domestic skilled workers would have to make up at least 25 percent of a firm’s operations after the first 5 years, 50 percent after 10 years, and 75 percent after 15 years.The oil and gas resources of Burma have significant potential for future development, with Burma currently producing oil, condensate and natural gas. There’s ongoing exploration and development both onshore and offshore, with both an oil pipeline and a natural gas pipeline currently under construction from Burma’s Arakan coast to southern China at a total cost of $2.5 billion. A number of oil companies from Asian countries are currently exploring for oil and gas in Burma. Recent Burma government estimates of natural gas reserves are 22.5 trillion cubic feet, indicating substantial future development potential.The agricultural sector has considerable potential for further development with the potential for Burma to significantly improve rice export earnings over the medium-term, through agricultural technology such as improving rice yields, better cropping techniques, as well as the impact of market liberalization measures.Tourism flows, meanwhile, have already picked up, while business-related foreign visits have increased sharply due to heightened investor interest.Burma remains heavily dependent on imported manufactures from China, yet economic reforms, rapid growth in domestic demand and increased foreign investment could result in the rapid growth of the low-value added manufacturing sector, helped by relatively low wage costs.Transition towards a more market-driven economy will itself create challenges, as Vietnam and others would no doubt agree. Some of the key challenges facing Burma are the need to improve the business climate, reform the state-owned enterprises, develop the financial sector, and undertake vital corporate governance and anti-corruption initiatives.One of the immediate priorities is the need to accelerate the development of the financial sector, in order to provide intermediation for economic development. This will require significant liberalization of the financial sector, so as to allow foreign financial institutions to rapidly play a role in providing financial services for the economic development of Burma.This goes hand in hand with closer co-operation with the IMF, World Bank and the Asian Development Bank in Burma’s economic development planning, with positive signs already in this area following Burma’s co-operation with the IMF on its exchange rate reform process.Burma’s economy could emerge as the next ASEAN Tiger economy, despite the political and economic challenges, if the Burmese government continues to pursue its reform agenda. This will be a significant positive boost to the ASEAN region and to realizing the long-term objectives of the ASEAN Economic Community.After decades of economic isolation, the reforms being introduced are set to bring significant improvements in the living standards of the people of Burma – the government just needs to make sure it can keep up the rapid pace of reforms that it has embarked upon.Rajiv Biswas is the Asia-Pacific Chief Economist for IHS Global Insight. The macroeconomic data cited here is sourced from research and reports from IHS.com.  Photo Credit: Steve Evans  Reddit   Digg   StumbleUpon   Delicious   Technorati   Yahoo   Google   Sina   Plurk      ASEAN, Burma, Burma Economy, IMF  COMMENTS2 LEAVE A COMMENTRodney Shipley April 5, 2012 at 8:02 am What is he big deal. I think Apple has bigger numbers than that. Media blows things out of proportion. Reply  minanda April 24, 2012 at 12:37 am God Bless You Aung Sang Suu Kyi Reply      LEAVE A COMMENT Please note, no comments that include abusive or inflammatory remarks  aimed at writers or other commenters will be accepted. Name:(required)Email:(required, but not published)Comment:    Economy Key to Burma’s Democracy ASEAN Stands Up to Burma? Burma’s Leadership Tries Plan B Clinton’s Burma Verification Mission Burma Rethinks Censorship. A Bit.            Find us on Facebook  Sign up for newsletter    BurmaCapital:  Naypyidaw > Find more info about Burma PACIFIC MONEYChina’s Shale Gas DreamChina is believed to hold the world’s largest reserves of shale gas. Making it viable will be the challenge.   CHINA POWER“China’s Superbank”A new book on China Development Bank presents an interesting perspective on China's model of state capitalism.   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IMF Survey: Myanmar Set for Economic Takeoff With Right Policies   What's NewSite MapSite IndexContact UsGlossary SearchSearch IMF Entire SiteIMF Survey Magazine   HomeAbout the IMFResearchCountry InfoNewsVideosData and StatisticsPublications  IMFSurvey Magazine: Countries & RegionsSubscribe Share This  Harvesting rice in Myanmar. Planned land reform could provide an opportunity to jump start development says the IMF (photo: Sam Diephuis/Corbis) Related LinksRead the releaseRead the reportAsia and the IMF2012 Annual Meetings in TokyoAsia: Brighter prospectsECONOMIC HEALTH CHECK Myanmar Set for Economic Takeoff With Right PoliciesIMF Survey onlineMay 7, 2012  Myanmar faces historic opportunity to jump-start economic development Appropriate reforms could significantly accelerate growth, lift living standards Top priority is to establish macroeconomic stability beginning with exchange rate reformMyanmar’s new government faces an historic opportunity to jump-start economic development, and lift living standards, says the IMF in its annual assessment of the Southeast Asian economy, which the government agreed to make public for the first time. The IMF report acknowledges the progress that has already been made in economic reforms over recent months, including steps to reform the exchange rate. It says that with appropriate policies, including a stable macroeconomic framework, the previously isolated country could fulfill its considerable potential, and deliver inclusive and sustainable growth. “Myanmar could see strong growth if it pursues the necessary reforms to take advantage of its rich natural resources, young labor force, and proximity to some of the world’s most dynamic economies, including China and India,” said Meral Karasulu, IMF mission chief for Myanmar. Against the background of political and economic changes in the country, growth in Myanmar is picking up modestly. In the last year, GDP growth is estimated to have increased to 5.3 percent, and is expected to rise to 5½ percent in FY 2011/12, and 6 percent the following year.Prioritizing reforms of the exchange rate regimeMyanmar has a complex exchange rate system with many restrictions that give rise to multiple exchange rates. This system increases transactions costs, discourages foreign direct investment and trade, encourages informal activity, and has put appreciation pressure on Myanmar’s currency. Last month, the authorities took the first step toward exchange rate reform by adopting a managed floating regime. With the help of the IMF, Myanmar plans to complete the process of exchange rate unification, including removing all exchange restrictions and eliminating multiple currency practices before their target date of end-2013 when the Southeast Asian Games are due to be held in the country. Paced reformsMyanmar’s reform needs are wide-ranging and significant, and the IMF suggests the reform agenda will need to be appropriately paced.“Drastic, over-reaching reforms in many policy areas may not be realistic, given the capacity constraints and the need to coordinate across various institutions,” said Karasulu. The IMF economists believe that any rapid reforms on a large scale could make any potential mistakes very costly. Although planned reforms will take time to implement, prioritization is essential to deliver tangible benefits to the majority of the population, they say.The International Monetary Fund, alongside other international financial institutions, is playing a large role in providing technical assistance, and working to ensure the most efficient delivery of assistance.“With the recent reform momentum, there is clear evidence that the Fund’s advice is being actively sought and the IMF is already scaling up technical assistance in line with the authorities priorities,” said Karasulu.Walking down the reform path “Unleashing Myanmar’s high growth potential will require cross-cutting reforms and substantial technical assistance,” says the Article IV report. Over the medium term, the IMF economists say the country needs to remove obstacles to growth including by modernizing the financial sector, fostering private sector growth by removing barriers to trade and investment, improving business climate and boosting agricultural productivity.The authorities in Myanmar are taking tentative steps down the reform path. Earlier this year, for the first time ever, the country’s budget was discussed in the new parliament. The IMF welcomed the move as an opportunity to redefine fiscal priorities and focus on reducing poverty, building human capital, and developing infrastructure. Modernizing agriculture and the industrial sectorThis reprioritization would help Myanmar narrow its large gap with other peers in social outcomes.Myanmar’s economic growth is narrowly-based, and the economy largely depends on energy and agriculture. Agricultural development is suppressed by poor access to credit, lack of private land ownership, and inadequate infrastructure and inputs. Lifting agricultural productivity will be essential for rural development and inclusive growth. The IMF believes that the planned land reform could provide an opportunity to jump start this process of development.Industrialization is one of the priorities in the authorities’ new national economic plan. Up till now, despite its low wage advantage, the manufacturing sector has been stifled by poor infrastructure and know-how, low investment, and extensive administrative controls limiting private sector development. Supporting the private sectorCross-cutting reforms would be needed to support private sector development. A key priority is to reduce the cost of doing business and policy ambiguity by improving transparency, and improving infrastructure, says the IMF.The financial sector has a large role to play in facilitating economic development, say IMF economists. Currently, Myanmar’s financial sector is small and repressed, with controls on financial intermediation. Modernization of the sector is essential to provide needed capital for development, and prepare the sector for membership of the ASEAN Economic Community.IMF Survey MagazineIn the NewsPolicyIMF ResearchCountries & RegionsIMF Survey InterviewWhat the Numbers ShowBooksWhat Readers SayPodcasts  Recent PublicationsPeriodicals Stay ConnectedComment on IMF policy Watch and rate our videos Download & listen to IMF experts Follow us for the latest news Most popular IMF photos Sign up for e-mail notification Get Survey on mobile Public Financial Management Blog  Write to usThe IMF Survey welcomes comments, suggestions, and brief readers' letters, a selection of which are posted under What readers say. Letters may be edited. Please address Internet correspondence to imfsurvey@imf.org.      HomeWhat's NewSite MapSite IndexAbout the IMFResearchCountry InfoNewsVideos Data and StatisticsPublicationsCopyright and UsagePrivacy PolicyHow to Contact UsGlossaryScam Alert عربي中文Français日本語РусскийEspañol           An Opportunity in Myanmar Policy Innovations The central address for a fairer globalization A publication of the Carnegie Council  IDEASINNOVATORSEVENTSABOUTSUPPORT           Home  >  Ideas  >  Innovations View CommentsAn Opportunity in MyanmarAs a country endowed with valuable resources, Myanmar is ripe for social and economic innovation.By Gabriele Köhler | International Development Economics Associates (IDEAs) | January 9, 2012    CREDIT: Jolie (CC). After decades of isolation imposed by major OECD countries out of concern over human rights violations, Myanmar has emerged as a new darling of the West. There has been an accelerating succession of visits by senior officials including the U.S. Secretary of State, the UK Foreign Secretary, and high-level government officials from France, Norway, and other countries. The UN Secretary-General may pay a visit, and the World Bank is being urged to resume work there, which had not been possible due to the international sanctions policy. New groups of investors are waiting to enter the country as soon as possible. This sudden enthusiasm, after years of ostracizing the country and depriving it of development cooperation beyond humanitarian relief, is a much welcome response to changes introduced by the government that came into power in 2011 in an orchestrated election process. Recent reforms include the release of some political prisoners, the reconstitution of the Myanmar human rights commission, the weakening of censorship and an opening of internet access, the adoption of a law allowing trade unions and the right to strike, the suspension of an environmentally damaging hydropower project with China, and other steps. The dissident leader Aung San Suu Kyi, who until 2010 had been under house arrest almost continuously since being denied election victory in 1990 and who accordingly refused any interaction with the oppressive government, has adapted her political stance since mid-2011, meeting with President Thein Sein first quietly and then publicly. In November she announced that her party would be willing to stand in the 2012 by-elections. One hopes that the about-face of Western powers is a genuine commitment to supporting peace and democratic reforms. But one fears that in reality the change of position is driven as much by the awareness that China, Thailand, Singapore, and India have been benefiting from the abundant natural resources of Myanmar—natural gas, hydropower potential, gemstones, real estate for industrial production zones or tourism, and the country's geostrategic position with access to the Indian Ocean—while businesses in the United States and Europe were missing out on very lucrative deals and investment opportunities. Political and economic reforms are intermeshed, and past decades have shown time and again that the important movement to ensure civil liberties, democracy, and human rights is very often confused and conflated with measures to introduce neoliberal capitalism and prize open a country for the economic interests of individual and multinational investors. Such was the case in Eastern and Central Europe after the collapse of the Soviet Union: 20 years later, the populations in most of those countries are still reeling from the adverse effects of privatization—which benefited insiders and created new oligopolies—and of deregulation—which dismantled core public services in health, education, and infrastructure; canceled crucial social transfers such as pension commitments; and in general hollowed out and destroyed government functions that were vital to the delivery or regulation of public goods and to efficient and transparent public administration. These measures were sold to the then-emerging democracies as the only available remedy to address statist oppression, corruption, cronyism, and inefficiency—instead of reforming the state, introducing accountability, and preserving and enhancing public goods and services. There is a risk that Myanmar will be exposed to the same set of nefarious policy ideas, especially now that many of the welfare states in Europe have themselves embarked on a brutal course of fiscal austerity with massive public sector cutbacks and a freezing of wages and social transfers. Yet as a country endowed with valuable resources, Myanmar has the means to use its policy space to innovate. As leading Burmese economist U Myint, head of the country's new economic advisory board, has put it: Myanmar is a rich country with poor people. It has the fiscal resources to upgrade socioeconomic policy and macroeconomic policy around objectives of social justice and economic development. It could introduce proactive labor policies to create decent work in the public sector; to build infrastructure in the rural areas and upgrade public transport; to finance and lead extension and innovation in the rural economy; and to create centers of research and development excellence. All of these areas have been seriously neglected for decades—displaced by investment in the military, oppressive wars against ethnic minorities, the police state apparatus, and most recently industrial parks which concentrate resources rather than spread employment and technology across the country. Myanmar could consider an enlightened form of government-led "industrial strategy," building on some of the East and South Asian policy paths, defining and costing out its economic development options. Such an approach would, for example, selectively promote sectors and areas for domestic and international entrepreneurship and investment while demanding that they ensure employment, decent work, learning, and innovation transfers. The recent introduction of labor standards would fit in constructively with such a strategy, if the population, now subsisting on one of the lowest per capita incomes in Southeast Asia, could benefit from decent employment and work conditions, and enjoy wages and salaries commensurate with the country's overall economic wealth. Myanmar also has the means, if it so decides, to universalize social protection. This is necessary from a social justice point of view—currently, only 1 percent of the population is covered by social security. Social security benefits for the government sector have recently been increased, and a few groups receive poverty- or emergency-related income transfers, but there is no systematic health insurance or income poverty response. One interesting idea that is currently capturing the imagination of global development policy discourse is the UN's social protection floors initiative, which is a concept that proposes a guaranteed basic income plus guaranteed access to high-quality, inclusive social services. Myanmar could explore a "floor" specific to its citizens' interests. The combination of a decent work and social protection agenda with an industrial strategy could help address Myanmar's dire poverty, income inequality, and stark urban-rural disparities. It may also address the pervasive and violent forms of ethnic social exclusion in the country's mountainous regions, and the lucrative but pernicious narcotics trade. Taken together these three agendas could be a tool for social inclusion, facilitating environmentally sustainable production. In short: Myanmar has the opportunity to create a democratic developmental welfare state, with its citizens emerging from poverty and political oppression, thereby inspiring many other countries. Read More: Business, Communication, Democracy, Development, Diplomacy, Economy, Governance, Human Rights, Jobs, Trade, Burma, Asia Related Resources:>< Digital RationsChina's State Capitalism Poses Ethical ChallengesBangladesh: The Silicon Valley of Social InnovationHumanitarian Aid PoliticizedBetter Safe than SorryConvicts for ExportThe MDGs and Social Policy Innovations from South AsiaObama's ASEAN Policy Looks AuspiciousEthics Be Dammed? China's Water ProjectsPoliticizing Economic Policy    View the discussion thread.blog comments powered by Disqus   Site Search      RecommendedPopular PagesMost Emailed The Asian Century: Over Before It Even BeganExchange Rates Innovated: The Global Currency UnionJamaica's Electricity Mix in 2030More Skin in the Game in 2013Send Salads to Ethiopia, and Solar Panels to Senegal  Featured IdeasGlobal Research EngineInnovationsContribution GuidelinesSponsorship  The Asian Century: Over Before It Even BeganCities and Climate Change: Small Enough to Act, Big Enough to MatterThe Sustainable Development Solutions NetworkSend Salads to Ethiopia, and Solar Panels to SenegalPolicy Simulations Could Help Combat Sex Trafficking   Tweets by @carnegiePI Global Research Engine    This search includes our Core Network partners.  Join Our Mailing ListsEmail Address* First Name* Last Name* Company Position Newsletter* Policy Innovations Carnegie Council E&IA Journal    Thank you for subscribing to Policy Innovations. You will receive an email shortly asking to confirm your subscription.  Selected AudioFind more audio like this on Global Ethics Network. The Journal Carnegie CouncilFive Myths About Nuclear WeaponsCarnegie Council Ranked Among Top 20 Think Tanks in USAGlobal Ethics Corner: Should Scholarly Research Be Free For All?Ethics Matter: Top Risks and Ethical Decisions 2013 with Ian BremmerReimagining a Global Ethic (Lead Article in Symposium)  Facebook       A new idea must not be judged by its immediate results.—Nikola Tesla TwitterPodcastsFacebookiTunes UyoutubeRSSUstream    SITE MAP LEGAL Carnegie Council, 170 East 64th Street, New York, NY 10065 | 212-838-4120 | policyinnovations@cceia.org © 2013 Policy Innovations        BBC News - Could Burma be the next emerging market miracle?        Opportunities for growth as Myanmar opens - The Nation    HOMENATIONALPOLITICSBUSINESSMY MONEYOPINIONLIFETECHNOLOGYTRAVELSPORTSMYANMARAEC PHOTOVIDEOANNCLASSIFIEDSCSRTOP40JOBSCAT & NATPHUKETSTATE OF THE NATIONMORE ASEAN TVE-NewspaperElegant TimeHoroscopeE-CardFacebookTwitterYoutubeSMSRSSSitemap       January 27, 2013, 12:20 amPRINT SUBSCRIPTION|DIGITAL SUBSCRIPTION|SIGN IN|    opinion   Home » opinion » Opportunities for growth as Myanmar opens watchdogOpportunities for growth as Myanmar opens Nophakhun Limsamarnphun  nophakhun@nationgroup.com April 21, 2012 1:00 am      Myanmar's April 1 parliamentary by-elections have proved to be fruitful as far as the country's re-joining the rest of the world is concerned. The latest positive reaction came from European Union, which has indicated it will suspend all sanctions against Myanmar for one year. The EU measure is seen as a carrot for the regime in Myanmar, which for the first time in decades decided to by-elections and release a large number of political prisoners. The opposition National League for Democracy (NLD), led by Aung San Suu Kyi, won most of the constituencies in the by-elections, paving the way for her party to enter Parliament, which has over 600 seats, most of which are still controlled by the military under the leadership of pro-reform President Thein Sein. The EU's suspension of sanctions is conditional upon the sustainability of reforms promised by the regime, and there will be a review after six months. Yet, the move will allow all economic and related activities between the EU and Myanmar, except arms sales, to resume, meaning that around 800 European firms will be able to return to do business with Myanmar. This will be a potential bonanza for many European firms hit hard by the recent euro-zone debt crisis. Suu Kyi herself has endorsed the conditional suspension of sanctions. Besides the EU, the US also has removed some financial restrictions on Myanmar, and Americans are now free to make financial transactions in the country for projects that "meet basic human needs" or promote democracy. Last year's visit by US Secretary of State Hillary Clinton marked the start of Myanmar's reforms, with the April by-elections being the first major event. The next milestone will be Myanmar's hosting of the Southeast Asian Games in 2013. Afterwards, the country will chair the 10-member Asean grouping in 2014. The following year, Myanmar will join the Asean Economic Community (AEC) as one of four new members, including Laos, Cambodia and Vietnam. In 2015, reforms will be in an advanced stage as Myanmar plans to hold its first-ever open general election in decades. For Thailand, the opening of Myanmar can be seen as a great opportunity to re-balance the Thai economy, as Myanmar can be a major source of cheaper labour, raw materials and natural resources as well as a major market with its population of over 60 million. Some of Thailand's labour-intensive manufacturing industries will be more competitive once they relocate to the neighbouring country, while Thai firms will have convenient access to a large market which is expected to grow rapidly in the coming years. In other words, Myanmar has the potential to be the next major Asian economy. As members of the AEC, both Thailand and Myanmar, along with Vietnam, Cambodia and Laos, can form a competitive mainland network of the AEC single market and production platform. This is evidenced by the emerging east-west and north-south economic corridors.  From east to west, the Dawei deep-sea port and industrial development zone on the Thai-Burmese border serves as one of the key links that will allow businesses and industries to tap the economic potential of India, Burma, Thailand, Vietnam, Laos and Cambodia. From north to south, economic integration starts from southern China down to Singapore, encompassing Myanmar, Thailand, Vietnam, Laos, Cambodia and Malaysia. China's proposed high-speed railway project, criss-crossing most of the Indochinese countries, is among the major mega-infrastructure links.    Latest stories in this category  Myanmar needs to remember Games is an Asean event Dropping of popular sports has upset some states,..Japan's renewed engagement has pros and cons for..Not impressed with comment on case  We Recommend  Pope Benedict XVI blesses social networks Vatican City - Catholics should embrace social..Activist jailed for Lese MajesteTop judge rejects criticism of court's lese..  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BORDER=0 WIDTH=215 HEIGHT=650 ALT="Advertisement"></A> </NOSCRIPT>      NewsRegionsAsiaBurma’s Reform: an Opportunity or a Threat? Saturday, 26 January 2013       Burma’s Reform: an Opportunity or a Threat?       Written by Iqbal Ahmed, Guest Contributor  |  26 April 2012  Luminaries smelled blood. Hillary Clinton, Kevin Rudd, and David Cameron came and went, openly advocating for continued democratic reform. All met with Ms. Aung Sun Suu Kyi.In the aftermath of grandiose state visits from such luminaries to Burma (officially known as Myanmar), Aung Sun Suu Kyi and military leaders face a long and difficult task to bring about political, social, and economic reforms in a country that has remained under a brutal military junta and isolated from most of the world since 1960.In politics, relationships matter less. Interest matters most. U.S. Senator Mitch McConnell, a high-ranking Republican, recently expressed his glowing enthusiasm and hopes for the reform in Burma. He thought Burma is on the path to achieve something that once seemed impossible. Ironically, Sen. McConnell is also the “architect” of the economic sanctions against Burma.The U.S. and Western interest in Burma is palpable in light of Burma’s strategic geographic location, its ties with China, and its natural resources. The integrity of this interest must be tested against what is really at skate for Burma. OpportunitiesThe path to reform is an opportunity for Burma and its citizens to restore human rights and democratic values, to open trades, and to transition into a civil government. Democratic reform ought to take place in the context of Burma’s own social, economic, and political conditions. But effective reform depends on various factors.First, the people’s voice must be empowered over the military rulers. Years of military dictatorship has separated Burmese people from its rulers. Ms. Aung Sun Suu Kyi’s National League for Democracy (NLD) won 43 out of 45 electoral seats in March, and she will have a seat in the parliament. Though the army still controls 80 percent of the seats, the mere presence of Ms. Aung Sun Suu Kyi in the parliament will change the dynamics of the political scene. Most importantly, she will represent the people of Burma.Second, seek trusting support from the military leaders who believe in reform. The power and influence of the military cannot be ignored nor can it be removed hastily from national power. Thein Sien and Thein Htay, both from the military, have committed to building infrastructure, tackling corruption, ending human rights issues, and other development issues. Burma cannot afford to lose this momentum of commitment and support from the military.Third, extend and establish trade with the foreign partners. Burma is rich in natural resources. Despite prolonged sanctions from the West, Burmese military rulers continued to trade with China, India, and ASEAN nations. The economic sanctions did not have the same effect as it did against North Korea. The point is sanctions do not always prevent the ruling party from gaining economic means. Given Burma’s abundance in natural resources and a competitive labor market, the reformers must seek bilateral trade and promote foreign investments in Burma to create growth.Fourth, Ms. Aung Sun Suu Kyi must be recognized as a legitimate leader. She is a true symbol of and the power behind Burma’s democratic reform, and military generals must work with her to ensure she remains that way. If reforms unfold, she is in a position to be elected the leader of the country, where her fame, persona, popularity, and leadership can propel Burma into a stable democratic state.However, for Ms. Aung Sun Suu Kyi and the Burmese military generals, the reform may come at a price – dealing with foreign interests. Burma is strategically important to the U.S. and the West, but it does not have the economic strength to revive its post-reform economy alone. Burmese reformers cannot give in too much nor can they afford to be too rigid. So, Burma faces external and internal threats to its democratic reform.Threats - Inside and OutBurma’s relationship at the nexus between the U.S. and China is a political concern. During the 1950s and 1960s, the U.S. used Burma as a political battleground to deter China from expanding its influence, but times have now changed - China, then, did not own U.S. debts. The U.S. and its Western allies must reconsider their views towards the Burma-China relationship. The Burmese reformers and their Western counterparts must push for a renewed diplomatic and trade relations between China and Burma.Internally, Burmese military generals are powerful, wily, and well trained, some even by the Central Intelligence Agency (CIA). However, the transformation of power within military is slow but visible. According to a report by Bangkok Post, 54-year-old Min Aung Hlaing, who is “part of a younger generation of Burma generals," has presumably taken over the army. This is a welcoming sign for democratic reform. A hasty move to oust military from power would be counterproductive.Burma’s strategic importance is crucial to Western diplomacy. It must use it wisely and effectively to build social, political, and economic infrastructure to spur growth, reduce unemployment, and extend democratic rights to its citizens. Luminaries may soon return for a revisit to a new Burma.Iqbal Ahmed is a public policy graduate from George Mason University in Arlington, VA, where he currently resides. He has written for the Diplomatic Courier, Centre for Research on Globalization, New Geography, Eurasia Review, Foreign Policy Journal, International Policy Digest, Global Politician, and NPR’s “This I Believe.”Photo by Suzan Black.  [DIPLOMATIC COURIER]Copyright 2006-2012 The Diplomatic Courier™. All rights reserved.This material may not be published, broadcast, rewritten or redistributed without permission.          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Hillary Clinton, Kevin Rudd, and David Cameron came and went, openly advocating for continued...FULL STORY                       1660 L Street, NW | Suite 501 | Washington, DC, 20036 | Privacy Policy | info@diplomaticourier.org All contents ©2006 - 2012 diplomaticourier.com (Diplomatic Courier™). All rights reserved.                     A window of opportunity in Burma : OpenOil OpenOil  HomeServicesOil policyEITI analysisTen minute briefingsWorkshops and trainingMedia consultationEducational materialConference material  Current ProjectsOil contracts booksprintWiki Guides  Research ThemesContract transparencyCitizen Dividends & Removing Fossil Fuel SubsidiesBig DataEITI  PublicationsUnderstanding Oil ContractsOil AlmanacsExploring Oil Data  About UsHistoryResearch InterestsValuesUpcoming EventsThe TeamOpenOil in the pressContact Us  Blogs  A window of opportunity in BurmaPosted by Sam Hatfield on Thursday, May 10, 2012 · Leave a Comment  Times are changing in Burma. Once it was risky to even say her name, now you can buy an Aung Sun Suu Kyi t-shirt on the streets of Yangon. Suu Kyi has long been a symbol of hope for Burmese people; David Cameron described her as a “shining example for people who yearn for freedom, for democracy, for progress” in his recent visit to the country. The landslide victory for Suu Kyi’s National League for Democracy (NLD) party in April’s by-election has certainly given Burmese people real hope. Whilst parliament remains dominated by the ruling Union Solidarity and Development Party (USDP) and its allies, the prospect of open political debate is for the first time in decades starting to look realistic.There is talk of a palpable yet tentative sense that political change is afoot. The end of 2010 marked Burma’s first election in 20 years and the long-entrenched military junta began to transfer its powers to a civilian government. Critics described the move as a proxy for continued military rule and say the vote was neither free nor fair. Yet perhaps to the surprise of many, the government has enacted a wave of reforms, freed some political prisoners, opened up a direct dialogue with the NLD party, and has halted the construction of the widely criticised Myitsone Dam – suggesting that they might finally be more willing to listen to both Burmese and international opinion.Whilst momentum for political change slowly builds, the Burmese economy is roaring to life:“Myanmar’s new government faces a historic opportunity to jump-start development and lift living standards. Myanmar could become the next economic frontier in Asia if, with appropriate reforms, it can turn its rich natural resources, young labor force, and proximity to some of the most dynamic economies, to its advantage.”This was the resounding conclusion of the IMF’s May 2012 report. Strong medium term growth is predicated on a substantial increase in natural gas export revenues in the coming 5 years with the expected completion of Shwe and Zawtika offshore gas projects.The IMF’s figures put into perspective the growing importance of natural resource revenues to the economy of Burma. Although there are uncertainties over the extent that informal payments have funded the government in the past, natural gas exports are expected to contribute between 17%-20% to government revenues over the next five years. This year natural gas exports alone will officially contribute $2 billion to government revenue, and this figure will grow up towards $3 billion per year by 2018. By the standards of the world’s oil and gas big hitters an extra $2 billion is a mere blip on the accounts. But for a low income country with a government revenue of only $5.5 billion last year – it really is a significant amount. Add onto that the revenues due to come in from oil (expected to be pumped at up to 240,000 bpd by CNPC), gold, copper, nickel, forestry activities and the Burmese economy will become increasingly reliant on natural resources. [By the way, no prizes for spotting the theme in the 5 links above]The most important factor here is that the extractive industries are becoming ever more crucial to the political economy of change in Burma. Military cronies have for decades benefitted from the informal flows of money from natural resources. As a whole range of Wikileaks cables reveal, the USDP has always had a firm grip on the extractive industries. Not only do they make profits on exports, but they benefit from payments by the international companies exploring and extracting their natural resources. Whether it’s a $7.5 million compulsory signatory bonus, or $5 million for cancellation fee, these are direct flows into government coffers, no questions asked.Whilst this stranglehold on Burma’s most lucrative sector continues, citizens remain in the dark as to how the great wealth that accrues from their natural resources is spent. Politics may be slowly changing in Burma. But so long as it controls the economic engine of the extractive industries, the government – not the Burmese people – will continue to decide Burma’s future.The IMF hint at the need for reform, placing a caveat on their growth predictions: Burma’s GDP is forecast to grow at 6% next year “if it pursues necessary reforms to take advantage of its rich natural resources”, said Meral Karasulu, IMF mission chief for Myanmar.But I don’t think it’s enough for the IMF to recommend reforms that simply ‘take advantage’ of natural resources. As Burma steps tentatively towards a new chapter in its history, it must put the extractive industries at the centre of governance reforms. Aung San Suu Kyi emphasised the importance of transparency and accountability following the 2010 elections, and highlighted the crucial role it plays in fostering good governance of Burma’s natural resources (at 5:50 mins): “It is because the public does not know what is happening to the revenues that we can’t do anything about using them more effectively… what we’ve always said is that there should be transparency and accountability to make sure that whatever deals there are, that they are to be to the profit, the benefit of the people”.There are growing calls for the EITI to be introduced in Burma, and this would surely be a sensible step. Leading economist Joseph Stiglitz made clear his support for the EITI in Burma during a recent visit, arguing that the process would ensure that the “revenues that belong to the people, go to the people.” Hanna Hindstrom from Democratic Voice of Burma put forward the case for EITI in Burma forcibly on the eve of the April 2012 elections: “If Burma truly hopes to embrace democracy, let alone become the ‘next economic frontier of Asia,’ transparency must be placed at the heart of its agenda. The EITI both can, and must, form part of that process.”Following her visit to Burma at the end of 2011, EITI Policy Advisor Dyyeke Rogan said that in a small step towards change, ministers are starting to discuss the prospect of accounting for natural resource revenues. “We have to account for the money, particularly the revenue from sale of gas”, said U Win Tun, Minister for Environmental Conservation and Forestry.The political landscape of Burma is changing, and economic momentum is generating hope that Burma’s dark days are over. But for as long as the government’s grip on the extractive industries continues, the chances of revenues from natural resources being used in an equitable fashion remain slim. The time is right for the IMF, international community and Burmese civil society to push the idea of extractive industry transparency and provide thought leadership on how we might achieve this in the context of Burma.       TweetCategory: Asia, Blogs, Burma · Tags: eiti, natural gas, oil, oil revenues, transparency  Comments are closed.  Recent blog postsWhat’s at stake in Uganda’s oil bills?Facing climate change with “peak oil” downYes but what do we REALLY know about the Niger Delta?South Sudan is surviving without oil — barelyFrom Kampala – Uganda oil wiki launch in 3…2…1…           Copyright © 2013 · All Rights Reserved · OpenOil NonProfit Theme v3 by Organic Themes · WordPress Hosting · RSS Feed · Log in          Relations with Myanmar: Less thunder out of China | The Economist    Supporting Women And Girls In Burma      Myanmar Gets Record Investment After Years of Isolation: Energy - Bloomberg   Could Myanmar's economic reform bring business to war-torn ethnic regions? - CSMonitor.com Skip to: Content Skip to: Site Navigation Skip to: Search      Search    World USA Commentary Business Energy/Environment Innovation Science Culture Books    Asia Pacific All Asia Pacific   Sign up for FREE E-Newsletters:  Daily Top StoriesBest of the Week - Editor's PicksChange AgentBooksBizTechOpinion & CommentaryPoliticsFood (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 factory workers stage a rally outside Myanmar Labor's Office in Yangon, Myanmar, Friday, Sept. 7. Elected President Thein Sein launched economic and political reforms when he took office last year after almost five decades of military rule, foreign sanctions and restrictive laws that kept the economy stagnant.Khin Maung Win/AP Enlarge         Hpa'an, Myanmar On the heels of recent reforms in Myanmar, aspiring entrepreneur Shar Phaung established Shar Mu Lar Mining Co. just two months ago, sensing economic opportunity in a war-torn state close to the Thailand-Myanmar border.Skip to next paragraphRelated stories Myanmar cease-fire: Who are the Karen rebels? In Pictures: Myanmar Edges Into the Open Myanmar removes names from blacklist. What does it mean for reform?    Subscribe Today to the MonitorClick Here for your FREE 30 DAYS ofThe Christian Science MonitorWeekly Digital Edition   The Karen National Union (KNU) has fought the Myanmar government in the Karen state, where Mr. Shar Phaung lives, since the late 1940s. The on-again, off-again jungle conflict has driven hundreds of thousands of people from their homes, left thousands killed or maimed, and made it a struggle for families to make ends meet. Now a cease-fire has been coupled with Myanmar President Thein Sein's pledge to prioritize economic reform one of Asia's poorest countries. The government and the KNU met last week in the latest round of peace talks, discussing troop positions.“Overall we can say things are improving as this is the third time the government and KNU meet, and publicly the government praises the KNU,” says Susanna Hla Hla Soe of the Karen Women's Action Group, an observer at last weeks' negotiations here in Hpa'an.RELATED Myanmar cease-fire: who are the Karen rebels?The lull in fighting means that even in this ramshackle riverside town of around 50,000, a six-hour drive from Yangon, entrepreneurs such as Mr. Shar Phaung now see business opportunities.“The KNU and the government have the cease-fire so we can go to the places like Kyaiseikgyi near the Thailand-Myanmar border, where 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 a region home to what is commonly described as the world's longest-running civil war.Still, both Ms. Susanna Hla Hla Soe and Shar Phaung acknowledge that a political settlement is a long way off. “It is just cease-fire for now: They have many things to discuss still,” says Shar Phaung.The Karen and several of Myanmar's other large ethnic minorities have long sought substantial devolution of central control to their regions, something the Myanmar authorities have resisted, fearing that minority regions could try to break away from Myanmar.Hurdles awaitBig issues await discussion, and even settling on the names of places and people could be problematic. Just as Burma is the old name for Myanmar – the official country name imposed by the ruling military in 1989 – “Kayin” and “Hpa'an” are official 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. “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 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, and maintained in conflict areas prior to commitment of resources,” says Alessio Polastri, managing partner at 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 will revise soon.‘We are still very poor’However, for others in Hpa'an, the lingering effects of war mean a daily struggle to make ends meet.Jerome Na makes shirts and dresses from the living room of her family home in a quiet, semi-rural street on the outskirts of town.Eight years ago she brought her family 40 miles from Kama Maung because of the constant dangers of jungle skirmishes there between the Army and the Karen National Liberation Army, the KNU's armed wing. “There are landmines around, and back then it was not safe, and there was no way to earn a living,” she says.Ms. Jerome Na says that the family did not have running water or electricity in their home village, typical of most of rural Karen state. “Business is still the same for me as it was last year and the year before,” she says, despite the cease-fire. “I think it is the same still for most people, we are still very poor.”  Related storiesMyanmar cease-fire: Who are the Karen rebels? 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Myanmar’s economy confronts tough policy challenges | East Asia Forum  Economics, Politics and Public Policy in East Asia and the PacificHomeTopicsDevelopmentEconomicsG20International RelationsPoliticsTradeOther Topics2008 in review2009 in review2010 in review2011 in reviewAsian CenturyASEANAsia and the Global Financial CrisisRegional ArchitectureSecurityChina-Japan RelationsChinese outward FDIChinese political transitionChinese RMBClimate changeForeign aidJapanese politicsTrans-Pacific PartnershipUnited States and AsiaUS-Japan allianceEditorialsWTOCountriesAustraliaChinaIndiaJapanDPRKROKUSAIndonesiaOther CountriesBangladeshMalaysiaNew ZealandPakistanPapua New GuineaRussiaSingaporeSolomon IslandsTaiwanThailandMongoliaMyanmarVietnamContributorsQuarterlyAboutMyanmar’s economy confronts tough policy challenges July 31st, 2012  Author: Lex Rieffel, Brookings InstitutionThe global policy community has focused on the political challenges facing the government of President Thein Sein in Myanmar and paid little attention to the economic challenges. Yet without economic improvements at the grass roots, political progress may founder. Urgent policy challenges confront almost every aspect of the Myanmar economy. Here are the top 10 issues.The single biggest source of Myanmar government revenue is hard currency earnings from exporting natural gas. A widely held view is that a large portion of these earnings is siphoned off into the pockets of powerful people. The credibility of the Thein Sein administration will depend greatly on how quickly it moves to show that the earnings from natural resource exports are being used for social development purposes. In an encouraging sign, President Thein Sein recently went on record to support Myanmar’s participation in the Extractive Industries Transparency Initiative.The single most important economic policy measure adopted by the Thein Sein administration so far was abandoning the grossly overvalued official exchange rate and moving to a managed float on 1 April 2012. The April move is just one of many steps required to achieve the ultimate goal of complying with Article VIII of the IMF Articles of Agreement (removal of all restrictions on the purchase and sale of foreign exchange for the export and import of goods and services). Myanmar will need to proceed expeditiously because it is scheduled to host the Southeast Asian Games in 2013 and the East Asia Summit in 2014.Seventy per cent of Myanmar’s population lives in rural areas where livelihoods depend primarily on agriculture. Boosting productivity to ASEAN-average levels will require improving land ownership, crop credit, floor prices, extension services, infrastructure and related areas. From its first day, the Thein Sein administration stressed the importance of the agricultural sector, but 15 months later there is still little to show for these efforts.Land ownership and control is a crucial issue also in connection with urbanisation, infrastructure and other projects. Two land laws were considered in the legislative session that ended in early May, but both drafts have been criticised for potentially contributing to land alienation. The current session of the legislature is expected to revise these laws, but the odds seem stacked against a result that provides assured tenure to smallholders and fair compensation when land is acquired for public purposes.Myanmar suffers from a ‘resource curse’ as severe as any other country. It has been most visible in connection with natural gas and timber exports. Mining projects are causing considerable damage to the environment and to people’s livelihoods. Jadeite mining in particular seems to be out of control. Foreign investor interest in Myanmar’s mining sector is intense, which suggests that the problem is likely to get worse.The Than Shwe government systematically exploited Myanmar’s natural resources for sale to neighbouring countries, but the Thein Sein administration has taken small steps to shift the output mix in favour of domestic consumption. With foreign exchange reserves above a comfortable level, the benefits of exporting power seem low relative to the benefits of providing a reliable supply to domestic households and industry.A sound banking system is essential for building a competitive economy and raising standards of living. Public trust in the system is low because of three demonetisations within memory and a serious banking crisis in 2003. Fortunately, most financial sanctions imposed by Western countries have been suspended or removed recently. Myanmar’s private and state-owned banks are working overtime to modernise, but they are constrained by existing regulations issued by the Central Bank of Myanmar, which is not up to ASEAN standards.Myanmar remains unconnected to its five neighbouring countries by a single railroad or highway. Construction is now underway on highway connections to India, China and Thailand, and could begin soon on railroad links to China and Thailand. One of the best opportunities for Myanmar to leapfrog the development of its economy is in the communications sector, where telephone and internet penetration are among the lowest in the world. In an apparent breakthrough in mid-July, the government announced that it will invite foreign companies to form joint ventures with the state-owned telephone and internet companies.In its early months the Thein Sein administration made clear its commitment to enacting a new Foreign Investment Law. A draft was submitted to the legislature toward the end of 2011, but the first session of the legislature in 2012 ended without a consensus text. Though passing the new law appears to be a top priority for the second session that began in July, considerable uncertainty surrounds substantive and procedural aspects of this law. The uncertainty is symptomatic of two challenges faced by the current administration: transparency and decision making. In another breakthrough, on 9 July the government media began publishing the texts of all draft laws being discussed in the legislature.Conceivably, the biggest problem facing the Thein Sein administration today is the tidal wave of visitors. The worst impact is on senior policy officials, who are spending considerable parts of every work day meeting with visitors, leaving insufficient time to make good policy decisions and even less time for effective policy implementation. A donor conference was held last May in Mandalay. One of the results cited in press reports was an ‘historic commitment’ to respect the guidelines that emerged from the 2011 High-Level Forum on Aid Effectiveness in Busan, South Korea. Translating this commitment into reality will not be easy.Lex Rieffel is a Nonresident Senior Fellow at the Brookings Institution, Washington, DC.This is an abridged version of a paper co-authored with Khin Maung Nyo and presented at the ‘Myanmar in Reform 2012’ symposium, organised by the Faculty of Social Sciences of the University of Hong Kong and the Center for Myanmar Studies of Yunnan University, held on 18–20 June 2012. 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Powered by Wordpress.     Editorial: Protecting Burma’s Muslims | ArabNews      » Login    | Register      Main categoryHomeSaudi ArabiaMiddle EastWorldEconomySportsLifestyleOpinionIslam in PerspectiveCartoonsCareer        Editorial: Protecting Burma’s Muslims       |    |  A  A       Arab News Thursday 14 June 2012Last Update 15 June 2012 5:41 pm  There is, unfortunately, nothing new about the persecution of Burma’s Muslim minority by the country’s Buddhist majority. It began 500 years ago. However, until the turn of the century, the country’s Muslims, mostly Rohingya people, who came originally from India, have enjoyed a precarious peace, even though in the 1960s, they were marginalized and forbidden for instance to serve in the armed forces. Many were later denied Burmese citizenship papers. Since 2001 however when there were nationalist riots, the campaign of persecution against this luckless people, became deadly and vicious. The current sectarian violence which has broken out in the Muslim heartland in the northwest of Burma, is therefore nothing new, but a continuation of an officially-condoned policy of repression and cruelty. The world is busy encouraging the military in Burma, or Myanmar as the generals like to call their country, to return to their barracks and permit a full transition to democracy. The iconic Nobel prize winner Aung San Suu Kyi, the leader of the democratic opposition, is currently in Europe talking with political leaders about how the military can be convinced to give up power, once and for all. To bolster the moves that the regime is making towards real liberalization, international sanctions are being lifted in stages. There are also talks with half a dozen tribal-based rebel movements such as the Karen, who have been conducting insurrections for years in their mountainous jungle fastnesses. At first glance, it would seem to the outside world that Burma is on track to achieve a free and just society. Yet the appalling attacks on the country’s Muslims and their continued condition as less than second class citizens within their own country, should give the international community pause for thought. It is a tragic truth that Buddhist monks, who led the brave protests against the generals in recent years, are also responsible for much of the violence against Burmese Muslims. Suu Kyi has condemned racial violence in her country. However, there are those who think that this woman, who internationally enjoys a revered status akin to that of Nelson Mandela, has not gone far enough. Calling for the rule of law, she said that the alleged rape and murder of a young Buddhist woman by three Muslim men, which started off this latest savagery, should be investigated properly. Though she condemned the violence, some might think that her criticism did not go far enough. Whatever the reason for this inter-communal violence, it is unforgivable and it is also clear that the perpetrators are almost exclusively local Buddhists. It is a brave politician that will take his or her own political constituency to task. Nevertheless, what Suu Kyi needs to say is that the new Burma that she and her supporters want to build, cannot be laid upon such rotten and festering foundations as the religious hatred and contempt that so many Burmese clearly show toward their Muslim fellow citizens. Therefore, the international community needs to pause in its drive to normalize relations with Burma. There should be a refocus away from the economic and political reforms that the military-appointed government is making. Instead the world should be looking at how the country is treating the Rohingya people and no less importantly, at the performance of the forces of law and order, in tracking down and prosecuting those responsible for the callous violence against this highly vulnerable community. It cannot be that the rest of the world is so blinded by the economic opportunities available to international companies in Burma, that they can ignore the crimes that have been taking place in the country’s northwest, crimes which have driven hundreds of thousands of refugees to flee to Bangladesh and Thailand. This is a problem that should be addressed immediately. If Suu Kyi is given the clear message that the brutality that we are seeing against Muslims will be no more tolerated than the military’s baleful dominance politics, then she will have something of a political mandate to return home and demand the violence stop. Eradicating the centuries of prejudice and hatred that the Buddhists have felt toward their Muslim brothers will, of course take far longer. But a clear commitment from Suu Kyi and her people to the ending of all discrimination against Burmese Muslims and their assumption of their full and proper place in the country, is essential.        |    |  A  A        CommentsView the discussion thread.       SearchSearch this site:           Related Stories              More like thisBurma’s massacres and the world’s conscienceMakkah’s ‘Little Burma’Targeting Rohingya Muslims in BurmaEditorial: Protecting Basic ResourcesEditorial: Protection of Workers   Latest StoriesEx-premier elected new Czech president Vonn beats Maze to win a World Cup giant... Kiptoo retains Kenya Prisons title Contador will focus on Tour de France 11 kidnapped Sudanese freed in Darfur:... King Abdullah and Crown Prince Salman... French-led troops in Mali seize airport... Gerrans wins on Australia Day, Slagter... 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Korea Pledge to Deepen Economic Ties    The Way to Gain Safe Exposure to Emerging Market Economies | Financial Markets Visitors Now:Total Visits:Total Stories:  FeaturedAlternativeSpaceSci-techMoneyPoliticsHealthGlobalSpiritualitySelf-SufficiencyUnexplainedLifestyle   <a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=50cea19339f44&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=326915&cs=50cea19339f44&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>      HOMEFinancial Markets     By The Sovereign InvestorContributor profile | More stories Story ViewsNow:Last Hour:Last 24 Hours:Total:   The Way to Gain Safe Exposure to Emerging Market EconomiesMonday, August 6, 2012 14:33% of readers think this story is Fact. Add your two cents.Share Tweet 0    (Before It's News) When a country is sitting on over $1 trillion in natural resources and suddenly opens itself for business to the outside world for the first time in fifty years, the potential for explosive short-term gains can’t be ignored.That’s exactly why I flew to Burma in early June to attend the 2012 Myanmar Investment Summit. I joined executives from 300 companies – from more than a score of countries – in the main ballroom of the Park Royal Hotel in downtown Rangoon, listening to the future of Burma.On June 19, I wrote to my Emerging Market Strategist subscribers:“Two recent events have put Myanmar back on the world stage and in a positive light. The country’s aging military leaders stepped aside and Myanmar held its first free elections in decades, in April, with the democratic movement winning almost every Parliamentary seat available in the election. In the wake of those elections, the U.S. government began easing decades-long sanctions against the country. “Those events set the stage for Myanmar. Though the country still has its problems, it once again has the potential to one day lead Southeast Asia’s economies.“That day is still years away. But we have the rare opportunity to get into a country at the earliest stages of its emergence – an opportunity I relentlessly pursue because of the huge profits that can accrue over time.”Just a few weeks later, at the Asean summit in Cambodia in early July, the U.S. government announced exactly what I predicted. It lifted the decades-old ban on companies investing in Burma. A few days later, General Electric secured a deal to sell X-ray machines to two private hospitals in Rangoon. The floodgates were open.My subscribers saw their position jump 34% in less than a month.This is just the beginning.Getting Ahead of the CashThere’s no doubt Burma remains a bit of a mess.For five decades, Burma’s economy was wildly mismanaged by a gang of psychotic military generals. The population is poor and oppressed…But the country is well-placed between India and China, and the land is overrun with natural resources. And it’s clear today that the place is moving in the right direction – even the U.S. embassy personnel I met with in Rangoon were honestly excited about the surprising speed at which the country is reforming and the dramatic changes they’ve seen in the last six months alone.This is exactly the point at which I want to be an investor in a country like Burma. I like to arrive early to these parties, when the hosts are still trying to pretty up the place. By the time the real guests arrive – the ones with all the cash – I will already have my seat at the table and I will profit as they rush in for the festivities.With the expectation that the U.S. would lift sanctions – along with a general continuation of the country’s reopening to the west – I knew cash would begin looking for ways to profit off of the Burma story.While we made an incredible gain in such a short period, it’s just the beginning for Burma. The businesses represented in that ballroom with me – names like Dole, Dow Chemicals and Norway’s massive StatOil – had come because they recognized the opportunity emerging as Burma begins to reform its government and its economy. They see the same opportunity I do – namely that Burma could potentially become one of the strongest economies in Southeast Asia.Countries Where Real Growth Still ExistsCoke, too, has announced plans to return to the once-reclusive nation … while Google, FedEx, Halliburton, Visa and 34 other U.S. companies met with senior White House business officials in Rangoon in late July to scope out the business climate and potential deals. A U.S. Embassy official told me that so many American and European companies in energy, telecom, infrastructure, the consumer sector and other industries are flooding through the country these days that embassy visitors in the past six months alone “probably topped our total number of visitors in the past 10 years.”American firms, of course, aren’t the only ones interested in exploiting opportunities in Burma. Japan, Singapore, Korea, Thailand, China, Australia, Russia … they’re all traipsing around the capital these days, looking to cut deals in everything from energy and infrastructure to consumer items and transportation.A poll out of Hong Kong just this week showed that Asian asset managers now rank Burma as the greatest investment opportunity for the next five years.Fortunes are clearly up for grabs as Burma opens up to the world.The Risk-Free Way to Invest in Emerging MarketsI understand that not everyone is ready to capitalize on the opportunities in Burma.But every investor needs some exposure to the emerging and frontier markets. They are the future of the world economy. The U.S. has had its century in the sun, just as Britain, Spain, Portugal and the others did centuries ago. America’s growth phase is over. We’re now in the autumn of our days as an economy, moving into the winter cycle. But spring is dawning over the emerging markets… and that’s where tomorrow’s opportunities exist in abundance.If you don’t want the risk of stocks, a safe, convenient way to play that growth trend is through Everbank’s MarketSafe Emerging Market CD. It gives you exposure to emerging-market currencies including the Brazilian real, Turkish lira, South Korean won and the Colombian peso.As emerging-market economies grow over the next five years, their currencies will strengthen and gain in value against a U.S. dollar backed by mountains of debt and political incompetence. But… just in case the world doesn’t work out that way, Everbank has structured this as a MarketSafe product, meaning that, at the very least, you will get back every penny of your original principal. If you want to know more about the Emerging Market CD, click here.Until next time, stay Sovereign…P.S. As I said, America’s growth phase is over. While your Wall St. broker tries to funnel you into sagging U.S. blue-chip stocks, the real growth is found beyond America’s shores. These are exactly the kinds of opportunities I’m always researching for my Emerging Market Strategist subscribers – companies that still have the potential for big gains in growing markets. To learn how you can become a subscriber – and about all of the opportunities your broker isn’t telling you about – click here for my latest special report.  2012-08-06 14:26:01Source: http://sovereign-investor.com/2012/08/06/invest-in-emerging-markets-burma/Related Stories A Take on the S&P Series How Likely Is It that founder Richard Schulze’s Deal for Best Buy Will Go Through? Bond Model Positive = Risk Off Bought DUST @ $46.25 The Arbitrageur: Gold Sea Change Imd Companies (ICBU) – Pump and Dump Watch Iveda Solutions (IVDA) – Deal Flow Jinzanghuang Tibet (JZHG) – Deal Flow Kandi Technologies (KNDI) – Share Structure Miscor Group (MIGL) – Comments & Business Outlook Comments Click here to cancel reply.Your Comments                              <a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=50cea1e504003&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=326916&cs=50cea1e504003&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>    <a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=50cea2c7d0a78&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=326912&cs=50cea2c7d0a78&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>    <a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=50cea31e12e24&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=326911&cs=50cea31e12e24&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>    <a href="http://ox-d.beforeitsnews.com/w/1.0/rc?cs=50cea278907de&cb=INSERT_RANDOM_NUMBER_HERE" ><img src="http://ox-d.beforeitsnews.com/w/1.0/ai?auid=326913&cs=50cea278907de&cb=INSERT_RANDOM_NUMBER_HERE" border="0" alt=""></a>   About | Advertise With Us | FAQ | Contact | Editorial Guidelines | Privacy | Terms of Service | Copyright Notification | RSS Subscribe Portions copyright © 2012 Before It's News Inc., All Rights Reserved.Before It's News® is a registered Service Mark of Before It's News Inc.. RegisterNewsletterEmail this storyEmail this storyShare This Story:GET ALERTS:                    Burmese Investment Boom Fuels Worries Over Land Grabs    Myanmar Gets Record Investment After Years of Isolation: Energy - Businessweek Bloomberg Businessweek Go To Businessweek.com      Sign in with Facebook     Or use your Businessweek accountEmailPasswordForgot password?  Remember me   Already a Bloomberg.com user? Sign in with the same account. Don't have an account? Sign up. Help! I can't access my account.   Bloomberg BusinessweekNews From Bloomberg         Global Economics Companies & Industries Politics & Policy Technology Markets & Finance Innovation & Design Lifestyle Business Schools Small Business Video & Multimedia        OAO Gazprom, the world’s biggest gas producer, is in discussions with the Myanmar government to participate in energy projects in the country, according to the Moscow-based company’s website, without giving details. Photographer: Andrey Rudakov/BloombergBloomberg NewsMyanmar Gets Record Investment After Years of Isolation: Energy By Rakteem Katakey on September 17, 2012  Tweet  Facebook  LinkedIn  Google Plus Comments  Email  Print From(enter your email)  To(enter up to 5 email addresses, seperated by commas)  Notes
 Max 250 characters        More from BusinessweekSmall Business Bankers Out at Citi, in at BofA A Quiet Breakthrough in Geothermal Energy You Can't Hide from Facebook Graph Search Why We'll Still Never See a 100% Reserve Economy Using a Traffic App Cuts Commutes, Manages Anger    Companies MentionedCVX  Chevron Corp  $116.2 USD  0.70  0.6%    Market data is delayed at least 15 minutes.Company Lookup Go      Myanmar, shunned since the 1990s for tolerating corruption and human trafficking, is set for record foreign investment in 2012 led by oil companies after the southeast Asian nation took its first steps toward democracy. The country plans its biggest auction of exploration blocks for oil and gas by year-end. Oil & Natural Gas Corp. (ONGC) of India probably will bid, an ONGC executive said in an interview. This month France’s Total SA (FP), one of the few foreign companies that operated under the old dictatorship, said it bought 40 percent of an offshore permit, while Coca-Cola Co. made its first shipment in more than 60 years to Yangon, the biggest city. “Myanmar is very under-explored,” said Managing Director D.K. Sarraf of ONGC Videsh Ltd., the Indian oil company’s overseas unit. “We think there are large reserves of both oil and gas that are yet to be found,” Sarraf said by phone from New Delhi. “We expect intense competition for assets there.” The U.S. dropped economic sanctions in July after elections and other democratic moves, and the International Monetary Fund forecast direct foreign investment into the country formerly known as Burma will rise 40 percent to a record $3.99 billion this year. Natural gas is Myanmar’s biggest revenue earner, and without new discoveries it will struggle to reverse an average 15 percent annual depletion in reserves of the commodity. Cameron Visit President Barack Obama in July authorized U.S. businesses to invest in Myanmar after President Thein Sein started a democratic process that saw opposition leader Aung San Suu Kyi elected to parliament following years of house arrest and prompted visits by U.K. Prime Minister David Cameron and India’s Manmohan Singh. The deals carry extra risk for investors in a nation sandwiched between China and India that’s seeking to emerge from 50 years of economic and political isolation. Ranked No. 180 of 183 nations in Transparency International’s 2011 corruption index, Thein Sein’s government will be challenged to find a balance between attracting capital and limiting a flood of money from mostly benefiting an elite. “Companies will be careful before investing because many policies are still very uncertain, and once in place there’s no certainty they won’t change,” Andrew Gilholm, Singapore-based head of Asia analysis at Control Risks, a global business risk consultancy which also advises companies investing in Myanmar, said in an interview in New Delhi Sept. 13. “A stable and secure investment environment is a long-term project.” Disclose Payments Myanmar plans to implement the Extractive Industries Transparency Initiative, which calls for governments to disclose all payments from oil, gas and mining companies, Industry Minister Soe Thane said June 8. “Pressing the button on transparency will help attract major western companies to invest in Myanmar to a certain degree. It shows the willingness of Myanmar’s authorities to fight widespread corruption and provide much-needed regulatory clarity for foreign investors,” said Siddik Bakir, a London- based energy analyst for the Middle East and South Asia at IHS Energy. “Western oil companies interested in Myanmar’s hydrocarbons industry need safety because they know the risks involved.” With existing drillers Total and competitors such as Thailand’s PTT Exploration & Production Pcl (PTTEP) pumping more gas than they’re discovering, Myanmar’s known reserves dropped an average 15 percent from 2007 to 2011, to 7.8 trillion cubic feet from 21.2 trillion cubic feet, BP Statistical Review 2012 data show. Production declined 8.2 percent to 11.2 million metric tons of oil equivalent in the period, according to the data. Economic Frontier Myanmar, called Asia’s “next economic frontier” by the IMF, is trying to fund the government better by luring companies from BP Plc (BP/) to Royal Dutch Shell Plc. (RDSA) OAO Gazprom, the world’s biggest gas producer, is in discussions with the Myanmar government to participate in energy projects in the country, according to the Moscow-based company’s website, without giving details. Hundreds of foreign investors met in Myanmar’s capital last week as they scout opportunities in the country even as Coca- Cola Co. and MasterCard Inc. increase their presence. Fifteen years ago, companies were rushing out. PepsiCo Inc., under pressure from shareholders and activists to withdraw from Myanmar because of human rights violations there, stopped operations in 1997. Apple Computer Inc., Carlsberg A/S, the Walt Disney Co. and Hewlett-Packard Co. were among companies that also pulled out at that time. Ruby Ban The U.S. banned the import of rubies from Myanmar in 2008 to protest human rights violations. The ban still exists. The southeast Asian nation is potentially the world’s greatest source of high-quality rubies and jadeite jade. “Foreign investment is crucial for Myanmar’s economic growth,” Ba Hla Aya, Charge d’Affaires of the Myanmar embassy in New Delhi, said at a conference in India’s capital city Sept. 13. “But the economy faces challenges in terms of shortage of human resources, lack of efficient services and non-availability of adequate financing facilitates.” He said auctions of exploration blocks this year should rise to a record. Myanmar had its most inclusive elections in two decades on April 1, lawmakers are revamping the financial system and President Thein Sein, who took over from Than Shwe in March 2011, signed a preliminary cease-fire with the country’s largest armed rebel force in a move to end the world’s longest civil war. House Arrest Suu Kyi, who was under house arrest for 15 of the last 20 years before she was elected to parliament in April, said during a visit to Europe in June that “transparency is the key” to attracting investments in the oil and gas sector. She cautioned companies from entering into joint ventures with Myanmar Oil & Gas Enterprise, the national oil monopoly, which she said lacked transparency. Myanmar was listed last year among nations that do not comply with minimum standards in combating human trafficking in an annual U.S. State Department report along with 22 other countries including North Korea, Iran and Yemen. Tension among its more than 100 ethnic groups “remains a potentially destabilizing factor,” the Asian Development Bank said in an Aug. 20 report. Natural gas exports increased to about $3 billion last year and are set to rise in 2013 as more gas fields and pipelines become operational, according to the Asian Development Bank. Chevron Corp. (CVX), Total and China National Petroleum Corp. are among companies with oil and gas investments in Myanmar. Offshore Project Myanmar is estimated to hold between 11 trillion and 23 trillion cubic feet of natural gas and currently produces around 19,600 barrels per day of oil and 1.475 billion cubic feet (41.77 million cubic meters) per day of gas, IHS Energy’s Bakir said. Output may rise by 300 million cubic feet a day next year when PTT Exploration & Production starts the offshore Zawtika project. Projects operated by South Korea’s Daewoo International Corp. in the Rakhine Basin may add 500 million cubic feet a day at a peak rate, he said. The economy may expand 6 percent this year from 5.5 percent in 2011, the IMF said in its April 2012 World Economic Outlook Report. That compares with 4.4 percent in Malaysia, 5.6 percent growth in Vietnam and 6.1 in Indonesia. China’s is projected to expand 8.2 percent this year, according to IMF. Myanmar was under military rule for about five decades until President Thein Sein took office last year. The dictatorship led to economic sanctions by the U.S. and the European Union. This resulted in economies including Singapore and Thailand outpacing Myanmar, which became Southeast Asia’s poorest nation. In 2011, the gross domestic product of Myanmar, with a population of 62 million, was $54.8 billion, while Singapore with 5.2 million people had $180 billion. Back in 1969 Myanmar’s GDP was about $6 billion, compared with $8.8 billion for Singapore, according to World Bank and International Monetary Fund data. Backtracking on Democracy President Thein Sein’s attempt to open the economy to foreign investments is not the first time Myanmar’s leadership has taken steps toward restoring a democracy only to backtrack. The junta released Suu Kyi from house arrest in May 2002, prompting the UN to call it a “major development” toward national reconciliation. By June 2003, Suu Kyi was back in detention. In September, Thein Sein halted work on the $3.6 billion Myitsone hydropower dam across the Irrawaddy being built with China Power Investment Corp., saying the project was against the will of the people. “The Myanmar government is genuinely keen to carry out the reform and opening-up process the right way,” Gilholm of Control Risks said. “They want top energy companies to come in with their technology and expertise, not only to explore and exploit resources but also to pass on best practice know-how.” To contact the reporter on this story: Rakteem Katakey in New Delhi at rkatakey@bloomberg.net To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net    Tweet  Facebook  LinkedIn  Google Plus Comments  Email  Print From(enter your email)  To(enter up to 5 email addresses, seperated by commas)  Notes
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Made in NYC  Ad Choices       blog comments powered by  Disqus              Rift in Myanmar over draft investment law | Reuters   Edition:INArabicArgentinaBrazilCanadaChinaFranceGermanyItalyJapanLatin AmericaMexicoRussiaSpainUnited KingdomUnited States          Home BusinessBusiness HomeEconomyTechnologySummitsSummit NotebookDealsBusiness VideoCompany Results & Outlooks    MarketsMarkets HomeIndia MarketsUS MarketsIndicesStocksStock ScreenerCurrenciesCommoditiesFunds    IndiaTop NewsIndia Insight    WorldWorld HomeSouth AsiaFaithWorldWorld Video    TechTechnology HomeMediaFileScienceTech Video    OpinionOpinion HomeChrystia FreelandFelix SalmonThe Great DebateExpert ZoneIndia MasalaMoney on the MarketsFinancial Regulatory ForumMacroscopeFundsHub Nicholas WapshottBethany McLeanDavid RohdeNader MousavizadehEdward HadasHugo DixonIan BremmerLawrence SummersSusan Glasser    BreakingviewsEquitiesCreditPrivate EquityM&AMacro & MarketsPolitics    MoneyMoney HomeAlertsWatchlistPortfolioStock ScreenerVantageTradeLinda SternMark MillerJohn WasikJames Saft    Sport & LifeSportsCricketSoccerGolfMotor SportsLifestyle BollywoodEntertainmentOddly EnoughHealthArtsLifestyle Video    PicturesPictures HomeReuters PhotographersFull Focus    Video                       Article                 Follow ReutersFacebookTwitterRSSYouTube      Most PopularMost Shared  Pictures: India celebrates Republic Day9:19pm IST  Morgan Stanley to let India banking licence lapse7:38pm IST  The best (and worst) Bollywood films of 201215 Dec 2012  North Korea threatens war with South over UN sanctions1:22am IST  MOVIE REVIEW - Matru Ki Bijlee Ka Mandola: Done in by half measures14 Jan 2013     Pictures: India celebrates Republic Day9:19pm IST  North Korea threatens war with South over UN sanctions1:22am IST  Editor's Choice25 Jan 2013  Banks try to put past sins behind them at Davos24 Jan 2013  Cheese fire causes traffic meltdown in Norway tunnel22 Jan 2013            Rift in Myanmar over draft investment law Tweet Link this Share this * President worried restrictions will hurt economy - sources * Draft law limits foreign investment in 13 sectors * Myanmar tycoons seen benefiting from changes By Martin Petty and Aung Hla Tun YANGON, Aug 29 (Reuters) - Protectionist clauses...  EmailPrint    Related TopicsRegulatory News »    Stocks        Wed Aug 29, 2012 4:14pm IST  * President worried restrictions will hurt economy - sources * Draft law limits foreign investment in 13 sectors* Myanmar tycoons seen benefiting from changesBy Martin Petty and Aung Hla TunYANGON, Aug 29 (Reuters) - Protectionist clauses introduced by Myanmar's parliament to a long-awaited foreign investment law have sparked concern the legislation will scare off foreign companies and benefit the crony capitalists who have long dominated its economy.Two sources with direct knowledge of the law say President Thein Sein wants to make it attractive to foreign investors and his office has been working behind the scenes to convince lawmakers to ease restrictions introduced by parliament, which could approve the draft this week.The law, crucial to foreign investment in one of Asia's last frontier markets, has been stuck in Myanmar's bicameral parliament for five months. Sources involved in the issue say 94 changes have been recently introduced, ostensibly to help domestic small and medium-sized enterprises compete.New requirements for as much as $8 million in start-up capital and barriers for foreign joint ventures in 13 restricted sectors could ultimately force some foreign firms to reconsider investing in Myanmar, say officials with ties to the president."It will just benefit a handful of the businessmen who had already made a fortune," said a senior industry official with close knowledge of the drafting process, who requested anonymity because of the sensitivity of the issue.Since the suspension of most Western sanctions as a reward for economic and political reforms, many foreign businesses have held off committing to investments despite praising Myanmar's potential in sectors from tourism to timber, oil and gas.Coca-Cola Co, hotelier Marriott International Inc , automakers Suzuki Motor Corp and Ford Motor Co and tech firms Panasonic Corp and Toshiba Corp have expressed interest in entering Myanmar.Many multinational executives say they want regulatory clarity in a market dominated for decades by tycoons with ties to well-connected generals - a tightly knit circle of cronies who face competitive threats as the government seeks to liberalise the economy and introduce greater transparency.The overhaul of the law puts restrictions on 13 sectors, limiting foreign firms to a maximum 49 percent investment. The restricted sectors include manufacturing, farming, agriculture and fisheries.The law would require foreign firms to put up between $5 million and $8 million in start-up capital for a 35-49 percent stake in joint ventures with a Myanmar partner.The revised law also requires that local companies match or contribute more capital than their foreign partner, a clause that could play into the hands of Myanmar's cronies, some of whom remain blacklisted by Western governments because of ties to the former military junta."FLEXIBLE" APPROACH URGEDSean Turnell, an expert on Myanmar's economy at Australia's Macquarie University, said the draft's changes represented a backlash to the reform process by entrenched vested interests, which had prevailed in some other post-transition countries."Instead of moving to a more liberal economic environment, some within the country seem to be pushing towards an outcome that could see the effective 'oligarchisation' of Burma's economy," he said.Another source familiar with the law said the President's Office was being kept informed of the work of parliamentary committees tasked with handling the legislation and had relayed to lawmakers concerns about the impact of proposed changes.In consultation with his advisers, Thein Sein had urged a more "flexible" approach. That would include dropping the $5 million start-up capital requirement and increasing foreign shares in joint ventures in the restricted sectors, the source said on the condition of anonymity.The investment law is one of the biggest pieces of legislation handled by a parliament that has become increasingly vocal under the leadership of lower house speaker, Shwe Mann, a decorated former general and an influential powerbroker.Like Thein Sein, Shwe Mann was a heavyweight in the former junta who has won international praise for his role in driving reforms in the 17 months since the military ceded power.Changes to the draft legislation, which initially allowed 100 percent investments by foreigners in any sector, followed a June 30 meeting in Yangon between Shwe Mann and Myanmar businessmen who urged an immediate review of the law.According to parliamentary sources, lower house members discussed the bill with local businesses between July 6 and 11 and then asked the upper house to send it back. The bill was returned to the upper house recently with 94 points for amendment, which included the new restrictions.Regulatory News  Tweet this Link this Share thisDigg this EmailReprints           Comments (0)This discussion is now closed. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.            Myanmar’s Suu Kyi Calls on U.S. to Heed More Than Economy - Bloomberg   Updated Facebook Page Serves as Leading Indicator - Bloomberg   Nobel Prize Winner Teaches Economics to Laureate - Bloomberg   New investments and unresolved conflicts | Democratic Voice of Burma HomeNewsEconomicsEnvironmentHealthMediaPolitics  Opinion & AnalysisInterviewPhotosDVB TV Burmese Language     Saturday, 26 January 2013Subscribe to our Feed                New investments and unresolved conflicts Share Comments (5)Tweet   By ANDREA GITTLEMANPublished: 19 October 2012A worker walks in front of shipping containers at Yangon's port on 8 April 2012. (Reuters) Over the past two years, some people in Burma have experienced some remarkable changes. The government of Burma has released political prisoners made moves toward greater political freedom, and loosened strict media controls. But people in Burma have also witnessed continuing crimes by the military, ongoing conflict in Kachin state, and violent ethnic clashes in Rakhine [Arakan] state.Other countries, including some that for years had supported democracy activists and human rights defenders in Burma, began shifting their policies toward engagement with the Burmese authorities in an effort to tip the internal balance toward those in government who wanted more reforms. This precise moment in Burma’s path from military dictatorship to a future healthy democracy presents a key opportunity for leaders in the US and elsewhere to make sure that any changes benefit all people of Burma. Governments that wish to engage with the Burmese government should make sure that their actions support substantive reforms so that any changes are more than just a veneer that obscures the ongoing oppression of ethnic minority groups.Many countries have reacted to the recent changes in Burma by lifting longstanding sanctions, ushering in a new era of investment in the country. In the US, for example, the Obama Administration is in the process of removing its sanctions regime, thereby shelving most of its tools to press Burma’s government for further reforms. The administration has lifted the investment ban, is in the process of ending the import ban, and has announced the end of a restriction on international financial institutions’ lending to Burma. These actions mark a significant shift from decades of sanctions to a new era of engagement.Many people and institutions stand to gain from the lifting of sanctions. The cronies of the Burmese government would be the primary beneficiaries, since they are well-positioned to reap the benefits of any influx of new business. In the past, companies partnered with allies of the regime, and became complicit in human rights violations, including rampant forced labour and forced displacement. Given insufficient corporate regulation by the US and other governments, those allied with the ruling Union Solidarity and Development Party (USDP) will be able to line their pockets with the incoming foreign investment.Contrast that windfall with the potential harm to ethnic communities, which have long suffered abuse and discrimination under Burma’s military. Many hotspots of foreign investment likely will be in the oil, gas, and mining industries, and some ethnic minority areas are rich in such natural resources. While foreign investment can indeed lead to better jobs for those living near investment projects, Burma’s ethnic minority communities have told a different story. A recent report from Physicians for Human Rights (PHR) documenting human rights violations in Karen state found a correlation between foreign investment projects and human rights abuse.“For too many communities, foreign investment means abuse.”In fact, families living near a development project (in this case, the Dawei deep sea port) were eight times more likely to report a human rights violation than families living elsewhere. This report built upon previous research in Burma that documented systematic attacks on health care and a denial of access to treatment as a way to control the population.For too many communities, foreign investment means abuse. Given the blanket impunity with which the Burmese military has abused members of ethnic minority groups, representatives of ethnic communities are understandably wary of any new investment without proper safeguards to ensure that economic development projects will not negatively affect the people around them.Reforms in Burma must include more than political openness and improved economic relations with other countries. In order to truly turn the page on a long history of brutal attacks on ethnic minority communities, the government of Burma will need to grapple with its troubled past and hold any perpetrators accountable for their crimes. Burmese authorities will also need to make a concerted effort to improve access to health care, education, and dispute resolution mechanisms in rural Burma. These necessary institutional changes will allow the recent openness in Burma to reach all parts of the country.Other countries also have work to do. The US should ensure that its regulations on companies investing in Burma are strict and enforceable. Any US company found to be complicit in human rights violations should face accountability measures at home. The US should also immediately revise its Specially Designated Nationals list so that companies have an updated and comprehensive list of people with whom they cannot do business.Such safeguards can help Burma’s ethnic minority communities emerge from decades of violence and oppression to enjoy the benefits of the country’s steps to rejoin the international community.-Andrea Gittleman is Senior Legislative Counsel for Physicians for Human Rights in Washington, DC.-The opinions and views expressed in this piece are the author’s own and do not necessarily reflect DVB’s editorial policy. Tags: Barack Obama, ceasefires, conflicts, ethnic minorities, investment, sanctions, united states Author: ANDREA GITTLEMAN              Category: Analysis CommentsOhn says:  October 21, 2012 at 3:35 am “….the government of Burma will need to grapple with its troubled past and hold any perpetrators accountable for their crimes.”Tall order. The government is the one perpetrating these crimes. So no recourse!Especially when much anticipated “people’s Champion” is also shown to be thoroughly, most definitely and definitively on the side of the “Government” which is the military in sheep clothes, soft looking enough to get approval at the share holders’ meetings of the companies which want to come in to take advantage of the land, underground, sea and slave labour.Those killing/ torturing/ looting/ burning/ displacing. It will stop only if they all die. Wait for Aung San Suu Kyi? Hmmm….   John says:  October 24, 2012 at 4:33 pm The insurgents have committed as many crimes as the military. In fact, the insurgents continue in their efforts, supported by the exiles who have poured millions of dollars into undermining the government. The problem is that they have lost their investment. They are left out of the new Myanmar and the power & wealth that they have sought since 1988. Because they’ve got so much at stake, peace and harmony do not seem to be in Myanmar’s future regardless of the reforms that are taken.   Ohn says:  October 27, 2012 at 12:38 am “The insurgents have committed as many crimes as the military.”With any intention, this is not a cruelty/ devastation/ inhumane acts competition for Mother Teresa Prize.It is not kosher to do just a bit less than what the other might do or have done so that you are in the right.Funding are most likely by selling the jade, forest products and drugs to the Chinese. Jade Bourses are in Hong Kong. That alone takes away hundreds of millions of public money if jade is properly sold with proper taxes given to the public, as in Utopia. Unlike Tamil diaspora who did fund LTTE substantially over decades, Burmese/ Kachin diaspora are not that well endowed/ inclined or organised.Now the country is up for sale,IMF, ADB and direct foreign input or input via goody two shoes Norwegians will enrich endless streams of military brass, their backers, and similar status people in all other armed armed groups. Hence the hyper-lauded and globally approved- “Peace Deals”. It is indeed “Piece Deals”, which piece for whom, via Aung Min, the cheesy, grinning dalan.KIA leadership has indeed looted, cheated,and stolen public property and bought companies, houses in Mandalay, Rangoon, money in the banks, etc. But that is not the issue here.Issue is Than Shwe/ Tin Aung Myint Oo deal with Chinese selling out the country, as if they own it, to build pipes,rails, roads, and the dams and dams and dams to destroy pristine natural land and rivers.The low land ignorant Burmese seem to agree with such or any plan to get any money or that sacred “electricity’in petty minded “smart” moves.But the land to be flooded or destroyed is sacred to Kachin common people. Now clumsy, ineffectual and incompetent military rumblings of Min Aung Hlaing has acted as best recruitment drive for KIA. What with well documented and publicised and visible torture, rape, murder, looting,burning- phyut-lay-phyut and generally abhorrent behaviour of the Bamar Sit-tut.   Ohn says:  October 27, 2012 at 12:44 am So even if the the whole KIA top brass wants to sell out the their people like the other armed groups are currently doing dealing with the devil, the people are not going to lie down and take it. Too much blood spill and hurt has been done. By the Bamar sit-tut.   Fact 2 says:  October 29, 2012 at 4:41 am The root cause of Burma’s problems are colonialism and divide-and-rule – by the English. Don’t try to twist it. It it not Bamars because the whole country was known as Bamarpyi, derived from Brahmah. Nothing to do with the bamar majority.So much ignornace of ancient and modern history of Burma. there never were ‘States’. Burma was a unitary kingdom, labeit ruled by different dynasties – just like everywhere else where there was a monarchy. Shans, Bamars and Mons have been integrated for centuries sharing common culture and religion Buddhism.Burma was and still is a country of many tribes,all free to travel and trade all those monarchical centuries; Burma was a kleidoscope of colourful tribes. it was the duty of every king to maintain peace and freedom of all people of Burma. There never was any persecution. Yes, some shans trades Kayins as slaves but the practice was stopped by the monarchical system. Never forget the eseence of Burmese Buddhist kingship. Straightne the kinks in your twisted minds. Burma should have county system rather than so-called states. USA started with 13 English colonies. Burma started as a monarchy 3000 years ago at Tagaung. Bamarasa Tagaungga is the common saying.     Click here to cancel reply. Name (required)Email Address (required)Website (optional)  CommentPlease note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.   characters available       Other Analysis StoriesWill the tribunal crisis push for the creation of a new constitution?How feudal imperialism continues to destroy the Union of BurmaWhat’s the price for peace in Kachin?No progress without engagement on Burma’s nuclear frontInternational praise and grassroots realitiesWhat Obama didn’t sayInvestment, discretion and Burma’s future economic development DVB TVGrowing up on the streets of Mandalay is tough. Many of the children sniff glue as a way to escape and to forget about the hunger. With no one to help them they are vulnerable to abuse and harder drugs. 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