The year 2019 marked the continuation of several policy shifts brought about by the 2017 Myanmar Companies Law (MCL). The authorities have begun to issue new policies in order to allow foreigners to invest in sectors that were otherwise reserved for Myanmar citizens, such as banking and trading in listed companies. Among the most notable...
Before the military administration came to power in 1962, Myanmar was one of the most significant economies in ASEAN, boasting a well-educated workforce and a favourable trade balance. The country was a key exporter of textile products and other manufactured goods to Thailand, and its rice exports were shipped across the globe. However, this...
Having been under UK rule in the 19th century and the first half of the 20th century, Myanmar has traditionally practised the same accounting and audit principles as the UK and India. While the accounting profession in Myanmar has a long history, its development has been impacted by many years of isolation. The country gained independence in...
Myanmar remains an attractive investment destination in South-east Asia largely due to its strategic location, favourable demographics and natural resources. The country has implemented significant reforms to foster foreign investment since 2011. For example, the Foreign Investment Law of 2012 was subsequently replaced by the Myanmar...
In 2015 the government of Myanmar laid out the goal to provide universal health care (UHC) by 2030. The aim of UHC is to ensure that every citizen can access high-quality services without experiencing financial hardship. The World Health Organisation (WHO) uses three metrics to measure the success of UHC schemes: coverage of essential health...
Driven by increased public investment and a series of key reforms Myanmar’s education sector has undergone a significant transformation following the transition to democracy that began in 2011. The budget allocation for the sector has risen steadily to be nearly six times the amount it was in FY 2011/12, reaching MMK1.76trn ($1.15bn) in FY...
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