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Myanmar Times - Land prices deter investors

Created: 22 Oct 2012

Publication: Myanmar Times
Title: Land prices deter investors
Date: July 2012
Excerpt: "Jared Bissinger, a PhD candidate at Australia’s Macquarie University who is studying Myanmar’s economy, said the country needed to be careful not to fall victim to the resource curse.

“Over the past decade Myanmar’s inward foreign direct investment [FDI] has become heavily concentrated in the extractive and power sectors, while investment in manufacturing, services and other secondary and tertiary sectors has been almost non-existent,” Mr Bissinger wrote in his latest journal article, titled “Foreign Investment in Myanmar”, published in Contemporary Southeast Asia earlier this year.

He said Australia was an example of a booming resource economy with high labour costs that in turn placed pressure on manufacturing and other industries that compete internationally.

“Resources can boom and other sectors of the economy can be hurt,” Mr Bissinger said.

“The dangers are [that] you get a lot of resource investment which drives up the currency and can make it difficult for someone to come here and start up a manufacturing facility.”"

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