UK firms in secret talks on joining Burmese gold rush
Rights groups uneasy over race to invest in nation with long record of broken promises of reform.
British businesses are looking to invest once more in Burma, as Western multinationals prepare for a gold rush inside one of South-east Asia's least developed – and potentially lucrative – economies.
JCB, Shell, HSBC and Standard Chartered are among the British firms said to be interested in Burma's potential.
The Independent understands the Foreign Office has held meetings with some British companies that have expressed an interest in investing in Burma. Officially, UK Trade and Investment does not encourage British firms to do business in the country. But a number of key British businesses privately indicate they are considering investing in Burma if reforms are brought in and EU sanctions against the state are lifted.
Reformists within Burma, desperate to attract foreign investment after decades of international pariah status, have promised a host of economic and political measures that they hope will encourage the US and Europe to lift sanctions. Washington gave its first indication this week it would begin lifting some of the sanctions that have been placed on the regime. The EU will decide whether to do the same later this month.