Myanmar’s Natural Resources: Blessing or Curse?
11. Dec. 2013
Myanmar’s progress since the 2010 general elections has been astounding, with political transition greatly encouraging citizens and international diplomatic and investment communities. The diplomatic climate for Myanmar has changed dramatically as a result and sanctions have been eased progressively. Not surprisingly, many international investors have cast their eyes on Myanmar’s abundant natural resources for commercial exploitation. This has prompted international pundits and commentators to speak about a “gold rush” unfolding in the country formerly known as Burma. Other experts clearly state that there is “no treasure trove waiting to be released here,” and highlight the difficulties facing investors due to the lack of high-quality geological and geophysical data.
Since ancient times, the land known today as Myanmar has been famous for its wealth in natural resources of all kinds. The Sanskrit name Suvarnabhumi, meaning “Golden Land,” has been associated with Myanmar for over two millennia. Today, Myanmar’s natural resources include oil and gas, various minerals, precious stones and gems, timber and forest products, hydropower potential, etc. Of these, natural gas, rubies, jade, and timber logs are the most valuable and currently provide a substantial proportion of national income. To date, there has been a very low level of systematic exploration of Myanmar’s natural resources due to lack of modern survey techniques.