The victory of pro-democracy opposition groups in Myanmar’s general election on November 8 is expected to bring renewed investor confidence, as the country continues to pursue an agenda of economic liberalisation.
Myanmar
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Higher budget allocations for infrastructure and technology are set to create new opportunities for Myanmar’s private health care sector, including international health service providers and suppliers, as the country works to address gaps in staffing and facilities.
Rising incomes, an expanding economy and changing consumer patterns are attracting a growing number of international brands to Myanmar. By fuelling competition amongst existing players, their presence is expected to trigger an improvement in the range and quality of products and services on offer.
A planned expansion in Myanmar’s business capital, Yangon, will nearly double the city’s residential capacity, helping to support its property market.
Recent attempts by the Central Bank of Myanmar (CBM) to reduce the use of dollars triggered an unexpected backlash in the form of dollar hoarding and black market trading, providing a timely reminder that managing the currency demands of a newly-opened economy is something of a learning curve.
The mining industry in Myanmar could see a rise in investment from 2016 if the government can overcome roadblocks to pass new legislation, delays to which have slowed the pace of development in the sector.