GO
Loading...

» more from Asia-Pacific News

Myanmar — Now Open for Business

The lifting of Western sanctions on Myanmar, after it ended nearly 50 years of direct military rule, has pushed the door wide open for foreign investments into this resource rich country.

Formerly known as Burma, the Southeast Asian country has attracted about $1.6 billion of foreign money over 2004-2010 with China its top investor. These inflows are expected to increase as more companies look to enter this frontier market that boasts of rich reserves of precious metals, oil and natural gas.

A recent by-election in Myanmar, was hailed as nothing short of historic and it won Nobel laureate and pro-democracy leader Aung San Suu Kyi a seat in parliament. This has gone a long way in improving sentiment towards the country, which until recently only a few could visit.

CNBC’s correspondent Kaori Enjoji makes a trip to the land of opportunity and finds it's full of surprises.

Photo: Jim Simmen | Getty Images