Many outsiders see Myanmar's opening up as an unmissable economic opportunity. It is the last large Asian country to become connected to the world economy, leaving only North Korea, which is both smaller and infinitely less promising. Myanmar, with about 6om people, is closer to Thailand (70m) or Vietnam (88m). Indeed, its rapid development recalls Vietnam'sopening up, the doimoi,in the Iatei98os, after decades of war and isolation. The opportunities for foreign investors are plain. As well as offering a large potential domestic consumer market, Myanmar is rich in gas, oil and minerals. It has about 50m barrels of proven oil reserves and 280 billion cubic metres of gas. China is only one of many contenders for exploiting this wealth. On April 11th Myanmar's government opened an auction of 30 blocks of offshore oil and gas. Big international oil companies such as Chevron, Total and Royal Dutch Shell will be interested, as will the Thai, Malaysian, South Korean and other Asian companies that stuck with Myanmar during sanctions. The government is putting a further 18 onshore blocks up for bids.
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