Reform is not a magic word. This is definitely true in Myanmar. When the junta regime first opened up its iron gate, the word “reform” generated euphoria. But months later, there was more confusion than results. Frustration is expected to follow suit if changes continue to grind slowly.
Observers who are familiar with President Thein Sein’s administration said there are more on the plate than what the regime can chew and digest.
Since the by-elections in April and the participation of Aung San Suu Kyi and her National League of Democracy leaders in hluttaw, scores of foreign leaders, dignitaries, diplomats and business delegates have visited the country.
Many of them have made a beeline to meet up with the regime in Nayphidaw hoping to secure deals, concessions and partnerships to participate in the country’s development.
This is where the problem starts. The outside world is expecting too much from what the current regime is capable or willing to give. An analyst noted that there are very few leaders in the current leadership who understand the mechanics of reforms or have the capacity to discuss the subject intelligently.
The current regime needs to understand that the rush to open up the country to foreign investors and to implement quick economic reforms should not supersede the need to embrace real political reforms.
Without a solid foundation for rule of law, an independent and respectable judiciary, credible public institutions and other essential pillars to protect private interests and individual rights, it is nearly impossible to create a modern economy. As the last of Asia’s frontier economy, Myanmar is intriguing but risky.
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2 comments:
To invest in Myanmar now is for the brave.Willing to invest in a high risk environment.Just like investing in China and Vietnam.Although China and later on Vietnam is not that risky as conditions there then have improved tremendously that what is now in Myanmar.Most Malaysians who invested first in China and later on in Vietnam made a killing.
Myanmar may be slow to reform, but just like a tortoise it will get there. Whereas Malaysia is the hare in its reform compare with Myanmar but will it ever get there ? Before it does it is getting nearer to bankruptcy at the rates it is using money they don't have or better still to say with borrowed money.
In the last one year or so the Najib's regime has been so generous and giving out so much of the borrowed money just to buy the votes. That is the only way these Umno scumbags and parasites know how. They seem to think that all the problems can be resolved with money and overlook to provide the most important thing of all is to serve the people.
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