19 Feb '12, 10am

Myanmar's economic promise faces pitfalls: Experts

Myanmar's economic promise faces pitfalls: Experts

Resource-rich Myanmar is seen as a hot new business frontier as reforms tempt investors, but with currency distortions and a banking system in tatters, analysts warn the economy could be slow to bloom. Vendors wait for customers at a local bazaar in Pyar Pon, Irrawaddy Delta, about 80km south of Yangon, Myanmar in this photo taken on Feb 17, 2012, -- PHOTO: AP NAYPYIDAW, Myanmar (AFP) - Resource-rich Myanmar is seen as a hot new business frontier as reforms tempt investors, but with currency distortions and a banking system in tatters, analysts warn the economy could be slow to bloom. International economic experts meeting in the capital Naypyidaw last week agreed there was almost a contagious faith in the country's potential as it opens up after years of isolation. Aside from its abundant natural resources, including oil and minerals, Myanmar has huge scope to develop its...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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