Firms See Myanmar as Next Frontier

Foreign businesses are ramping up interest in the long-isolated but potentially lucrative market of Myanmar, as signs of a thaw between its government and Western leaders raise hopes of a possible end to Western sanctions.

For now, the push is confined mainly to Asian companies that aren't covered by tough sanctions imposed by the U.S. and Europe since the late 1990s to punish Myanmar for its poor human-rights record. Some investors held back because of concerns about risks to their reputations, while others doubted the opportunities were worth pursuing and now are changing their minds.

Meanwhile, Western companies are looking for ways to get back in, though few are willing to discuss plans in public or in depth because of a possible backlash from customers who remain skeptical about recent reforms in the country. U.S. officials say they don't intend to lift sanctions until they see more changes in Myanmar, including more transparency in the country's dealings with North Korea.    More Read