Myanmar

Under plans revealed in October, state-owned energy firms in Myanmar will seek foreign partnerships to improve operations and open up downstream energy operations to investment. 

Growing demand for residential units, the urbanisation of major cities and a national drive to bridge infrastructure shortfalls, should help Myanmar’s construction sector maintain its recent track record of strong growth over the coming years.

Growing international interest in Myanmar, following the easing of sanctions by the West, has led to a period of unprecedented growth in the tourism industry and has seen visitor numbers soar to 2m last year from 300,000 in 2010, according to governmental data.

Authorities in Myanmar are determined to foster economic progress and have placed financial inclusion on their list of priorities. In an attempt to tackle demand for increased financial services, Myanmar has taken numerous steps in the past 24 months, such as the adoption of a floating currency, liberalisation of the insurance industry and the independence of the Central Bank of Myanmar (CBM). Following these adjustments, 2014 is set to see the CBM grant operating licences to foreign banks, while 2015 has been set as the target date for the establishment of the Yangon Stock Exchange.

The education system in Myanmar is attracting attention, as both the state and private sector look to invest in upgrading schools and universities. The re-opening of Yangon University to undergraduates last December is seen as a key development. Once considered a leading institution in the region and home to 60,000 students, the university saw its undergraduate teaching suspended in the late 1990s.

With a number of on-going projects and more in the pipeline, Myanmar looks set to reduce its transport infrastructure gap, although a shortage of labour and materials could drive up costs.