US President Barack Obama used the word Myanmar when meeting with the country’s president, Thein Sein, during his historic visit to Washington, signalling that the nation had finally crossed the diplomatic Rubicon.
In the wake of sound domestic growth, Myanmar’s energy sector is firmly catching international attention due to its huge potential. However, the country needs deeper economic reforms to protect investments.
Amidst criticism of Myanmar’s recently adopted investment law, Google chairman Eric Schmidt is optimistic about the potential of the country’s telecommunications and Internet sector after his much-noticed visit in March.
Myanmar has received a great deal of attention from investors when the country opened up its economy in 2011, and later on eased its investment rules to attract foreign direct investments: However, investors need to be cautious.