The 2019 EuroCham Myanmar Business Confidence Survey showed that confidence is relatively high among European firms in Myanmar.

The European Chamber of Commerce, or EuroCham, calls its survey “one of the key references for current and prospective investors.” This year, it showed that around one third of the 74 participating firms believe the Myanmar business environment had “improved” or “greatly improved,” a 19 percent rise from the 2018 survey. Indeed, 82 percent of participants expected their businesses to grow in coming years.

The confidence might be an indication that investors from the West are warming up to the Myanmar business world after a period of uncertainty following the human rights crisis on the country’s western border. The positive survey results come despite a UN call for a boycott of all military-affiliated business, renewed US sanctions against top military officials, and formal charges of genocide brought before the International Court of Justice against Myanmar.