SIGNS of a thaw in relations between Myanmar (Burma) and the West have raised hopes of a possible end to economic sanctions. And investment interest is growing in the long-isolated, but potentially lucrative and strategically significant nation, particularly in its natural gas resources.
For now, the upstream push is confined to mainly Asian companies that aren’t exposed to tough sanctions, imposed by the US and Europe since the late 1990s to punish Myanmar for its poor human-rights record. But western companies are keeping a close eye on political developments.
Long treated as a pariah by the West, but courted by China for its natural resources and strategic position on the Indian Ocean, Myanmar’s new government recently released hundreds of political prisoners. It has vowed to implement further economic, as well as political reforms, in a bid to see economically damaging sanctions eased.
Recent government reforms have sparked interest...