This video is part of the Asia Society’s Live Webstreaming series, which offers a glimpse into the strategy of how to revitalize Myanmar after over a decade of oppression and civil unrest.
This attention on Myanmar bodes well for the country’s infrastructure, especially the tourism sector, which is focused on showing the cultural splendor of this ancient country. Myanmar’s still nascent reform process has emerged as one of the most promising efforts at democratization and liberalization in the world today. On the economic side, reforms have unified the country’s multiple currency exchange rates, provided initial steps toward a modern banking system, injected transparency into foreign exchange earnings, and helped to bring inflation under control. A microfinance law was completed and in late 2012 a new foreign investment law was passed.
With abundant natural resources, a bountiful labor pool, and growing interest from foreign investors, Myanmar has an extraordinary opportunity to reverse the damage wrought by decades of political and economic isolation. At the same time, major challenges abound, including creating jobs for the vast majority of the population who live in poverty, tackling corruption, and establishing the rule of law, to name just a few.
Editor’s note: Original World offers small group and custom private travel to Myanmar, including “Spirit of Myanmar,” with 12-day journeys in Febraury and October.