Burma Business Wrap (January 23, 2012)
covering burma and southeast asia
Monday, October 25, 2021

Burma Business Wrap (January 23, 2012)

By STEPHEN BLOOM / THE IRRAWADDY Monday, January 23, 2012

(Page 3 of 3)

These foundational steps, he said, include: (a) policy reforms and actions to tackle emerging macroeconomic problems such as exchange rate appreciation and inflation; (b) concrete measures to stimulate the private sector; and (c) reforms in the exchange rate, financial system, investment policies, and state-owned enterprises that address entrenched military interests and control over economic resources that are impeding national economic development.

Babson said that foreign governments are partly to blame for the lack of progress in these areas, with the West placing almost all of its focus on political issues, and regional trading partners like China and Thailand looking mainly towards their own geostrategic and economic interests.

He went on to argue that it is “high time for a rethink of economic engagement policy with this important and proud country. Nothing will advance the interests of the people of Myanmar more than sensible economic reforms coupled with a commitment to respect their rights of citizenship under national law.”

Babson added that “Ramping up humanitarian and development assistance is not the answer, although such resources can be helpful. What matters is a domestically motivated and managed economic reform drive that taps all good ideas and reinforces collaboration between the government, private sector, civil society and the international community.”

These statements will probably ring true to most economic experts and potential business investors. In the end, however, what may most motivate Burma to proactively undertake managed economic reform will not be the demands of foreign governments, but rather the demands of the foreign investment market.

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Babu k malvic Wrote:
I request the US to ease the sanctions on Burma , rather to worried about the American Companies, They will have their own inventories Business modules and so on.
Please think of Burmese People and do some thing.

deiwar Wrote:
I absolutely agree with Nyunt Han and hereby call for international community to demand that Burmese government take measures to put an end to its omnipresent corruption, which must be tackled in order that potential international investments could truly benefit ordinary populace and genuinely talented ones in Burma.

Hein Wrote:
This is certainly great news for the people of Burma whose standard of living would rise with increased investments (as long as the right regulations are in place). I also don't see why it would be irreversible once the sanctions are lifted. US had huge economic interests in Cuba and Iran before the revolutionaries took over the government. Congress didn't have a problem imposing sanctions on those countries. The more open the society gets, the harder it will be to revert back to the authoritarian government.

tin tin Wrote:
I agree with McCain last decision, as we are still waiting for World Bank official report to lift the sanction. As we are seeing only a brief flicker of light.

Nyunt Han Wrote:
" the sole reason why " Burma "was mired in dire economic straits" !
What a load of nonsense!!
The sole reason was the mismanagement and the rampant corruption brought about by Than Shwe and his gang. While the country was mired in dire economic straits they were quietly laughing all the way to Singapore banks !!!

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