Myanmar, with a population in excess of 63 million, is the largest country in mainland Southeast Asia and is rich in precious stones, and well-endowed with oil, natural gas reserves and other mineral resources.
The major agricultural product is rice which covers about 60% of the country’s cultivated land, forestry, and freshwater and marine resources. It is also has the dubious distinction of being the world’s second largest producer of opium, accounting for 8% of entire world production
In 2012, the Asian Development Bank formally began re-engaging with the country, to finance infrastructure and development projects in the country. The United States, Japan and the European Union countries have also begun to reduce or eliminate economic sanctions to allow foreign direct investment
In 2012, the government, as part of a policy to liberalise the economy and private enterprise, introduced a foreign investment law which removes the requirement for overseas investors to have a local partner to start a business in the country, and will allow leasing, but not ownership, of property.