Myanmar

Myanmar’s manufacturing sector reached a turning point in 2018 as liberalisation, tax reforms, infrastructure improvements and the development of special economic zones helped turn the country from a low-cost regional production base to a rising manufacturing destination with capacity on the rise. The sector has an advantage due to the country’s relatively low operating costs, favourable...

If Myanmar is to fulfil its economic potential, significant investments are required in transport infrastructure. In all areas – from roads, to railways, to ports – the country has fallen behind its neighbours in the region. Encouragingly, the government recognises the need to prioritise this area, and has begun to make progress on much-needed projects, often with the help – financial and...

Since the beginning of Myanmar’s economic and political reform in 2011, the construction industry has experienced mixed fortunes. Although the government has recognised the economic multiplier effects of infrastructure development, some large-scale projects have been held up by bureaucracy and investor scepticism. However, recent efforts suggest cause for optimism, including the large-scale...

Home to one of the world’s oldest oil and gas industries, the energy sector has long been a key pillar of Myanmar’s economy. While the sector continues to play an essential role in economic output, its true potential has not yet been realised, partly due to a counterproductive fiscal regime and unfavourable market conditions. Despite a number of setbacks, successive governments have made...

A new wave of digital innovation is reshaping Myanmar’s economy, as a remodelled national strategy and increased competition enhance the performance of the ICT sector. Prior to the liberalisation of Myanmar’s telecommunications industry, SIM cards and mobile phones were a luxury only the wealthy could afford, but they are now becoming much more widespread, though there is still progress to be...

After several years of rapid expansion and double-digit credit growth, Myanmar’s banking sector underwent several necessary reforms in 2017 and 2018, as the Central Bank of Myanmar moved to introduce new prudential regulations and reduce overdraft lending. Although foreign banks remain prohibited from participating in retail activities, a spate of recent directives have made promising strides...