Between a slowing economy and increasing government bureaucracy, Myanmar’s energy sector has lost some of its shine in the years following the 2014 oil price crash.
CEO of Consulus, Lawrence Chong, told NBI that the Myanmar government’s hope that it would attract significantly more investment from Western companies as the country’s first freely elected government for 60 years has not materialised, forcing it to rethink its strategy.
“There is no point to open up more blocks due to the uncertainty and insufficient competition,” he added. Instead of waiting for greater Western investment Suu Kyi’s government appears to be wooing China once more, Chong said.
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