Purchase OBG Publications

This chapter examines new developments in Myanmar’s tax code, including the Union Tax Law 2015 and the self-assessment system. It also contains a viewpoint from U Win Thin, Chairman, Win Consulting.

This chapter examines Myanmar’s legislative climate for foreign investment as well as new regulations for the foreign exchange market and updates to legal codes. It also contains an interview with Cheah Swee Gimm, Director, Kelvin Chia Yangon.

Over the last few years, gradual progress has been made in the overhaul of Myanmar’s medical framework, and for the first time many rural communities are benefiting from the expansion of the nation’s health care budget. The government is focusing on health care development in an effort to reach the ambitious national goal of achieving universal health coverage by 2030. As the country’s health system matures, the sector promises to be one of Myanmar’s most dynamic over the next few years. The education budget has also increased significantly and will continue to do so under the new government. The National League for Democracy is seeking to address a number of issues, including ethnic discrimination, overcrowding and a lack of qualified teachers. In the long term, the education system looks set to gain significant momentum, particularly under a government that is determined to increase the amount of graduates and improve the quality of degrees. This chapter contains interviews with Dr Gershu Paul, CEO, Pun Hlaing Hospital; and Sardar Umar Alam, Head of UNESCO, Yangon Office.

Hundreds of thousands of foreign tourists have visited Myanmar since 2010 when relations with the West thawed and the country began to open up to the outside world. While some are eager to experience the South-east Asian nation’s rich culture and heritage, others are simply curious to see the once isolated country before it changes forever. At the same time, economic development is expanding the market for domestic tourists, as their economic situation improves, allowing them to explore their country’s varied destinations. The year 2016 has been designated “Visit Myanmar Year” by the Ministry of Hotels and Tourism and will provide an opportunity for the country to step up its international marketing campaigns to encourage people to visit. With significant hotel capacity and new transport infrastructure needed, the challenge will be to manage the expansion of the tourism sector in a sustainable way so that all parties can benefit. This chapter contains interviews with U Yan Win, Chairman, Myanmar Tourism Federation; and Anders Aeroe, Director of the Division of Market Development, International Trade Centre.

Once a sleepy city where cars were rare, Yangon is now a bustling urban center. The spike in activity has been very positive for economic growth, but has placed pressure on infrastructure. Myanmar’s government has recognized the need to modernize transport capacity and update the legal framework that governs the sector. To that end, international experts have gathered in Yangon to plan and guide transport development of Myanmar’s largest city. Public-private partnerships are the preferred means of executing infrastructure projects in Myanmar, and it is estimated that planned improvements will cost $433bn through 2030. The completion of projects to improve airports, roads, railways and ports will be a significant step forward for Myanmar as it seeks to integrate itself into the global economy. This chapter contains interviews with U Htun Myint Naing, Chairman, Asia World; and Liew Mun Leong, Chairman, Surbana Jurong and Changi Airport Group.

After decades as a primarily agrarian society, over the past six years Myanmar has made considerable progress towards the development of a sustainable industrial base. Its key manufacturing sectors – which include textiles and garments, food and beverage (F&B) products, and construction materials – have attracted growing investment and, consequently, have rapidly expanded output. In 2014 the industrial sector accounted for 21% of GDP, nearly double its 2008 share of 11%. Foreign direct investment in manufacturing also showed rapid growth in 2014 and the first three quarters of 2015, reaching $1.5bn. From 2012 to the end of 2014 Myanmar’s retail sector expanded by 7-15% per year, in line with overall GDP growth in excess of 7% over the same period. Despite various hurdles, most local retailers expect to see considerable expansion in the foreseeable future. This chapter contains a dialogue with Jean-Francois van Boxmeer, CEO and Chairman of the Board, Heineken NB; and Yoshinori Isozaki, President and CEO, Kirin Holdings Company.