In a speech today at the World Economic Forum, Myanmar opposition leader Aung San Suu Kyi warned potential investors to the country, which is opening up to business, that the country faced a severe unemployment crises, utterly useless legal protections for investors, severe political problems, and weak infrastructure. She did not exactly tell investors not to come —she hopes that well-informed investment can help boost the economy and slow down the youth unemployment crisis. But she did not exactly sound like one of the many exuberant cheerleaders for Myanmar’s potential, such as the Asian Development Bank and many investment fund managers.
In a piece in the Financial Times several months ago, I echoed several of Suu Kyi’s main concerns, and I continue to believe that Myanmar is being wildly overhyped as a business destination, at least for now. You can read the piece in its entirety here.