The agricultural sector continues to play an important role in Myanmar’s economy, generating 24% of GDP and 24.6% of export earnings. The industry presents a number of industrial and productive opportunities that, if properly nurtured, could help the country regain and even surpass much of its former standing as a lead producer in the region. To do so, however, will require significant...
Myanmar’s construction industry has expanded rapidly in recent years. The sector’s GDP growth amounted to 7.7% in fiscal year 2014/15 and is expected to grow to 8.3% in 2015/16. Despite political risks, Myanmar’s development needs remain significant, particularly in infrastructure. With the victory of the National League for Democracy in November 2015, it is expected that 2016 will see an...
Hailed as the last true telecoms greenfield in Asia, Myanmar’s communications sector has radically evolved in recent years. An impressive number of international companies – a total of 91 – competed for two operating licenses in 2013. Telecommunications development remains a fundamental pillar in the evolution of Myanmar’s economy, and it supports the development of the other sectors,...
Although it has one of the lowest electrification rates in the world, currently at about 30%, Myanmar is targeting total coverage by 2030. Despite the significant progress needed, the goal is seen as reachable, with Myanmar holding abundant hydro and solar resources, and considerable hydrocarbons potential. The country is also likely to be able to attract the capital to build the much needed...
Since the political reforms of 2011, a number of significant steps towards liberalisation have been taken in the banking sector. The Central Bank of Myanmar has been given much needed autonomy and ATMs are now allowed in the country. Further aiding accessibility, mobile banking services have been introduced. New private banks are being set up and foreign banks have been granted licences to...
After nearly half a century of isolation, followed by five years of reform-driven growth, Myanmar’s economy is currently expanding at a record rate. As of late 2015 rising investment, growing exports and steadily increasing foreign involvement were expected to push GDP growth to 9.3% during FY 2015/16, which ends in March 2016. The current period of economic expansion is a result of two main...
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