Aung Tun Thet, a member of President Thein Sein's National Economic and Social Advisory Council, said that Myanmar could be the next Austria.

"Austria smack in the middle of Europe, being the sort of corridor to the East, West, South and North. I think we can do the same thing, that we can be the next Austria, linking India and China", he said.

Aung Tun Thet is also a senior advisor to the UN Resident Coordinator's Office. He said that a strategic location has a huge potential to provide a brilliant opportunity for the transport and logistics sector. The location is between the region's two economic power houses of India and China.

Myanmar is a country rich in resource and has a youthful population. The country has become a favorite destination for many investors after it embarked on political reforms in 2011.

Kanthan Shankar, country manager for the World Bank in Myanmar said that the success of the country heavily relies on the implementation of these reforms.

Nobel laureate and Myanmar's opposition leader Aung San Suu Kyi said during her visit to Japan that building infrastructure is one of the major challenges that country is facing right now. She said in a speech to students at Tokyo University that inadequate infrastructure has hurt the country's potential.