Prior to the outbreak of Covid-19, Myanmar's insurance sector was going through a period of rapid change following the entry of foreign insurers in 2019. Amid the disruptive environment of the pandemic, the fledgling insurance industry has continued to develop new distribution channels and services in response to shifting demands from the market.
Myanmar has seen an increase in financial technology (fintech) and digital payment offerings since the outbreak of the coronavirus pandemic, raising hopes for the expansion of financial inclusion in a country where banking penetration remains below the regional average.
After enjoying years of exponential growth, South-east Asia’s super apps have been forced to reassess their business models as a result of Covid-19, with many refocusing their priorities as they plan for the post-pandemic world.
At the start of 2020, the Regional Comprehensive Economic Partnership (RCEP) – potentially the world’s largest free trade deal – seemed on track to be signed by the end of the year. However, the coronavirus pandemic has slowed that process, raising some questions about when the agreement will be formalised.
Covid-19 has shaken up the development of the digital economy in Myanmar, with the pandemic leading to a rise in demand for home broadband in this traditionally mobile-first market.
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