When it was announced in August 2013 that a South Korean consortium had won the tender to build the new Hanthawaddy International Airport, Myanmar’s opening to the world gained critical momentum. The airport, which is scheduled to open in 2018, is a badly needed hunk of infrastructure. To sustain the country’s current pace of progress in...
Myanmar may find that the first steps toward general nationwide economic reform will begin within industrial estates. These zones can create forms of ownership not possible under the law of the land, and can be paired with special incentives and offer better infrastructure than is available elsewhere. The strategy has worked well in Thailand,...
While many sectors of Myanmar’s economy have great potential, the tourism sector is already highly profitable and growing rapidly. Flights into Myanmar have dramatically increased in number since 2010 as business visitors and leisure travellers flock to the frontier that until recently was isolated by international sanctions. Given the dearth in...
Gems are, as ever, a boon to the Myanma economy. The sector employs thousands and raises millions, for the state as well as for insurgent groups. Sanctions and civil war – let alone nationalisation, military control and international campaigns – have greatly affected the sale of precious stones. Jade, rubies and sapphires have nonetheless...
Soon Myanmar will have a dozen airlines. That is quite a few operators for a country with 1.6m passengers a year, the same number of passengers as Macao, Azerbaijan and Malta. Indeed, Thailand, a country that serves 35m passengers annually, has fewer airlines than Myanmar. To be sure, most of the Myanmar carriers have just a few small planes....
Garment manufacturing is likely to be a key driver of Myanmar’s economic growth going forward. Not only was it a major part of the economy before sanctions were enacted, but it has also been one of the fastest to recover. The garment business is set to expand considerably in the near to mid term as foreign investment pours in and pre-sanction...
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