Friday, December 9, 2011

Burma gets lowest ranking

Friday, 09 December 2011 21:35 Myo Thant

Chiang Mai (Mizzima) – A ranking of 19 Asian countries puts Burma at the bottom for good governance.

The rankings by the Singapore-based Virens & Partners, called the “The Good Governance for International Business Index – Asia Pacific 2011,” made its ratings based on factors that included rule of law, openness to international trade, political stability, taxation, corruption and fiscal and monetary administration.

A chart ranking Burma. Photo:

The report said that encouraging changes this year following general elections in 2010 have provided optimism that Burma would be able to start to open up its economy to international trade and business in 2012.

Recently, Reuters reported that although Burma is trying to make changes and open up to the West, international companies are still wary about investing. The Burmese government has invited tenders for offshore oil blocks, but regional companies are the main contenders, Reuters said.

According to the rankings, Singapore was No. 1; Hong Kong was second; Thailand was 10; Indonesia was 11; and Vietnam was 12.

Vriens & Partners is an Asia-focused corporate advisory firm specializing in government relations, public affairs and political risk analysis, according to its website.

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