Myanmar: a new frontier market
Resource-rich Myanmar is undergoing a dramatic transformation, with massive economic and political reforms heralding a new era for this Southeast Asian nation. A plethora of joint ventures with foreign companies seeking to establish new cement companies reflects the improved investment environment and optimism for this frontier market. By Soe Naing, Kanbawza Industries Ltd, Myanmar & ICR Research.
Myanmar became independent of British rule in 1948. From 1948-62 the country was a democracy before it was seized by a military junta, which ruled up until 2011. It is now one of the poorest countries in the world. However, from 2012 the newly-formed democratic government drastically changed Myanmar’s policy and a new era was born with President Thein Sein and opposition leader Aung San Suu Kyi agreeing to work together to develop the country before political elections in 2015.