Myanmar is a country in the throes of a rapid transformation and in Yangon, its commercial capital, the change is palpable.
The city’s once peaceful tree-lined streets are now packed with cars, buses and lorries. Cranes dot the skyline – still relatively low-rise compared with its South East Asian neighbours – as new buildings take shape amid thickets of bamboo scaffolding.
Economic and political reforms that started in 2010, unravelling the military’s 50-year grip on power, have led to a resurgence of outside interest in Myanmar. With the gradual removal of international sanctions, increasing numbers of US and European business travellers have been visiting the country, eager to see the potential of one of Asia’s last frontier markets. Foreign investment reached a record US$8 billion (S$11 billion) last year, according to a Reuters report, 25 times the level before the reforms began.
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