Economic development asistance to Burm/Myanmar - discussion
|Title:|| ||Minerals, militants and Myanmar peace
|Date of publication:|| ||23 October 2013|
|Description/subject:|| ||"A recent spate of bombings in Myanmar was attributed by police to local mining businessmen intent on stopping foreign investment. These rogue commercial elements were seemingly worried of the impact on their business interests.
The shadowy assaults, including a bomb that detonated in a room occupied by an American in the Traders Hotel, demonstrates just how complex the climate for investors is in Myanmar. It also reveals how opaque mining interests could derail the peace process underway between the government and armed rebels and jeopardize the country's democratic transition.
Hype persists over Myanmar's resource wealth, with the country gearing up for new waves of investment and new mining laws
predicted to shortly come into effect. A recent Asian Development Bank study noted that Myanmar could become Asia's next "rising star" if it can leverage its rich resource potential. However, regardless of much optimism, difficulties remain and if not addressed could unsettle the peace process.
The most important issue for investors, but also populations living near resources, is the reform of legal and regulatory frameworks. The current uncertainty in these frameworks has undermined the investment climate. Similarly, land tenure must be defined and a sustainable agreement reached with armed ethnic groups for their greater inclusion into the democratic process. Greater transparency is also needed to boost confidence in local actors that remain entangled with military powerbrokers. If such a prudent approach is not achieved, resources could become more of a burden than a boon in the country's transformation..."|
|Author/creator:|| ||Elliot Brennan|
|Source/publisher:|| ||"Asia Times Online"|
|Date of entry/update:|| ||28 May 2014|