"Myanmar held its first ever international investment summit late last month in Naypyitaw. The two-day event showcased 120 projects worth US$3 billion (about 4.5 trillion kyats) in 10 states and regions. On the second day of the event, Investment and Foreign Economic Relations Minister U Thaung Tun hosted a dialogue for international guests, offering them reasons why they should invest in Southeast Asia’s “Final Best Frontier.” The government is looking for ways to revive the economy, which has been sluggish for more than two years. “Myanmar is now open for businesses. We are making the necessary changes,” U Thaung Tun said. A weakening currency, high inflation, armed conflict, unstable policies and the slow pace of reform have chipped away at growth under the current administration, which had hoped the economy would take wing after more than five decades of isolation under military rule. Under the government’s “Look East” policy, officials have toured Asia beating the drum for the country’s economy. The summit was part of this attempt to raise investment from East Asian countries. More than 1,600 local and foreign delegates from 17 countries attended the summit and 40 companies exhibited. The top countries were China, Japan, Singapore and Thailand..."