• 5 minutes Global Economy-Bad Days Are coming
  • 8 minutes IT IS FINISHED. OPEC Victorious
  • 14 minutes Venezuela continues to sink in misery
  • 17 minutes Could Tesla Buy GM?
  • 38 mins OPEC Cuts Deep to Save Cartel
  • 1 hour Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 9 hours Price Decline in Chinese Solar Panels
  • 3 hours What will the future hold for nations dependent on high oil prices.
  • 2 hours And the War on LNG is Now On
  • 14 hours Alberta Cuts Push Prices Too High
  • 1 hour Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 1 hour How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 3 hours U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 6 hours USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 1 day Congrats: 4 journalists and a newspaper are Time’s Person of the Year
  • 10 hours Rigs Down
John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Burma - Truly One of the Last Untapped Energy Frontiers, Opening for Business

Investors, looking for sure bets, can stop reading right now.

For those seeking overlooked energy "final frontiers," well, there’s now – Burma.

According to the secretary of Burma's largest business federation, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Myo Thet, he has been meeting with companies "every day for a year" even though "there is still rather low interest from the West. There have been some bank owners from the west and also Australia but it’s still low compared to Asian countries. We wish to see more (investment) not only from the East but also the West... because the West, in terms of technology and finance, is stronger."

Burmese Industry Minister U Soe Thein, who attended last month’s World Economic Forum in Davos stated that companies are "rushing" to Burma, and claimed his appearance at the Forum, a first for a Burmese government official, was proof of Burma's growing status as a strategically key market for the west.

Why the turnaround?

The government is opening up the country’s previously tightly state-controlled economy and is accelerating reforms. The biggest external event however is some Western-imposed sanctions are getting lifted, causing Western business executives and government officials to pack flights to the capital Naypyidaw.

The European Union has already dropped a longstanding visa ban on some Burmese ministers and on 6 February the U.S. relaxed…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions




Oilprice - The No. 1 Source for Oil & Energy News