Asia Economy

While ASEAN itself has been around since 1967, in 1947, before he died, and in one of his very last speeches, my father talked about an association of Asian nations. That was long ago, but he had this vision that one day all the Asian nations would be able to get together and form a strong, united bloc. The values that we put at the forefront of...

Myanmar was the economic frontier highlight of 2013, and has swept the international press with its bold reformation goals and political transformation. However, given that there are few historical examples of foreign firms operating in the country, international investors are still wary of making large commitments.

With Myanmar taking its place as chair of ASEAN in 2014, a remarkable period of progress in the country’s foreign relations is being acknowledged – both by Myanmar’s neighbours and by the wider world. Now, the country’s diplomats will have to help steer the 10-nation group through some challenging times in the run up to the establishment of the...

In March 2011, President U Thein Sein shocked the world in his inaugural speech by taking a new tack for Myanmar’s development, speaking of the need to “open doors, make reforms and invite investments as necessary for development of the nation and the people”. He stated clearly that Myanmar aims to “attract foreign investments” as part of a...

However, the Foreign Investment Law passed in 2012 has a similar package of incentives, which apply to any foreign investment in Myanmar, thereby effectively nullifying some of the advantages of locating in an SEZ.

The “Golden Land”, officially known as the Republic of the Union of Myanmar and formerly as Burma, has undergone dramatic reforms in recent years under the administration of President U Thein Sein. The rapid transition from a military junta to an open economy has surprised the global community, and will see Myanmar assume the ASEAN chair for the...