"Old ways of doing business are quickly changing."
Unfortunately, no. While Burma's political structure has changed, the politics of the economy remains much the same. The International Crisis Group (ICG) argued in a July report that "the system of monopolies and access to licenses, permits and contracts is being dismantled," but the evidence suggests more nuanced changes. Though ministries are professionalizing and opening to outsiders, navigating bureaucracy and accessing decision makers still depends intensely on personal connections. For example, foreigners investing in mining must now partner with one of 38 companies on a government approved list. The same applies for oil and gas, though the list is reportedly around 60. While some listed companies have expertise, others are simply beneficiaries of a needless intrusion into the decisions of private companies. Getting on those lists, and doing successful business in general, is still very much about who you know.
Recently privatized state-owned enterprises are mostly falling into the hands of the urban elite in Yangon, Mandalay, and Naypyidaw, people who have the connections and capital. Since the country lacks a strong taxation regime, Burma's people won't even enjoy much additional tax revenue from the newly privatized companies. Contrary to the stated goal of promoting the country's development, many of the reforms are in fact enabling the "oligarch-ization" of Burma. The old ways of doing business will influence Burma's economic trajectory for decades, much as they have elsewhere in Asia.
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