Trade & Investment

With a newly elected government in power and nearly five years of growth in foreign trade and inward investment under its belt, Myanmar is widely expected to become increasingly integrated into the regional and global economy in the coming years. In the fiscal year (FY) through to April 2015, the nation reported total foreign trade receipts of $29.16bn, up from $18.17bn in the same period in 2011/12/ Foreign Direct investment (FDI), meanwhile, quadrupled from $1.9bn in FY 2011/2012 to $8.1bn in 2014/15. The falling value of the Myanmar kyat against the US dollar; a lack of high-quality transport and electricity infrastructure; restrictive investment and trade regulations; and a relatively underdeveloped legal framework are issues that will require considerable attention. However, based on the past five years of liberalisation, the country’s leaders appear to be serious about continuing to open up the economy, attract increased amounts of FDI and boost trade. This chapter contains interviews with U Zay Yar Aung, Chairman, Myanmar Investment Commission; and Gavin McGillivray, Head, UK Department for International Development; and a viewpoint from Julie Bishop, Australian Minister for Foreign Affairs.