Investors to reap benefits of Myanmar reforms

Myanmar: Dramatic changes afoot in Myanmar have whet the appetite of foreign investors who are eyeing a slice of the frontier market's rich and largely untapped economic potential.

As the new army-backed government steps up its reform agenda after nearly five decades of outright military rule, the West is considering easing sanctions that have stifled development since the late 1990s. But when the measures are eventually lifted and multinationals are given the green light to invest, they will discover a country weakened by half a century of military rule and economic mismanagement.

An abundance of natural treasures -- including gold, gas, teak, oil, jade and gems -- could make the country rich, as it was before the generals took power.

The country formerly known as Burma also has a pool of low-cost labour and English is widely spoken, a legacy of more than a century of British rule until independence in 1948.

And the Southeast Asian nation of 60 million people is tipped as a hot tourist destination thanks to its appealing colonial architecture, picturesque temples and golden beaches.

AFP