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Sitting above the Indian, Indochina and Eurasian plates, Myanmar is divided into four geographic belts, which help to provide a rich and diverse minerals mix. While most industries have benefited from an influx of foreign investment since the opening of the economy in 2011, the mining sector has yet to catch up. This is due to several reasons, including legal inconsistencies and ongoing civil unrest in key areas. Though much will depend on implementation of mining law reforms passed in late 2015, prospective investors are eagerly waiting in the wings to tap the country’s deposits of metals, ores, industrial minerals and coal. This chapter contains interviews with U Htun Lynn Shein, Chairman, Myanma Precious Resources Group; and Vicky Bowman, Director, Myanmar Centre for Responsible Business.

The agricultural sector continues to play an important role in Myanmar’s economy, generating 24% of GDP and 24.6% of export earnings. The industry presents a number of industrial and productive opportunities that, if properly nurtured, could help the country regain and even surpass much of its former standing as a lead producer in the region. To do so, however, will require significant investment in the sector, greater mechanisation, the provision of better financing for farmers, as well as clearer land rights. After years of under investment and a near total drop in exports, the country is rewriting its laws, establishing initiatives to boost production and yields, and encouraging foreign investment. Given Myanmar’s abundant agricultural resources and the role the sector can play in developing the country, it is likely that these initiatives will take priority. This chapter contains an interview with U Thadoe Hein, Managing Director, Myanmar Awba Group.

Myanmar’s construction industry has expanded rapidly in recent years. The sector’s GDP growth amounted to 7.7% in fiscal year 2014/15 and is expected to grow to 8.3% in 2015/16. Despite political risks, Myanmar’s development needs remain significant, particularly in infrastructure. With the victory of the National League for Democracy in November 2015, it is expected that 2016 will see an ongoing commitment to updating essential services, such as water supply and sewerage, upgrading airports and roads, and building better housing. With some 125,000 sq metres of retail space due to open over the next four years, Yangon is set to see more franchises and mid-tier brands establish themselves in the city. There is also potential for more affordable and mid-range housing projects due to Myanmar’s growing population, which is expected to increase by about 50% through to 2040. This chapter contains interviews with Ang Wee Gee, CEO, Keppel Land; and U Win Khaing, President, Myanmar Engineering Society.

Hailed as the last true telecoms greenfield in Asia, Myanmar’s communications sector has radically evolved in recent years. An impressive number of international companies – a total of 91 – competed for two operating licenses in 2013. Telecommunications development remains a fundamental pillar in the evolution of Myanmar’s economy, and it supports the development of the other sectors, particularly financial services. Network expansion initiatives will remain a dominant force behind foreign investment and job creation for the foreseeable future. Telecoms infrastructure spending is set to increase as border coverage grows and demand continues to rise. The growth of the IT sector has been partly overshadowed by the liberalisation of the telecoms industry. However, the arrival of major international telecoms players has opened up significant new opportunities for Myanmar’s expanding market. Yet this has also put some strain on the country’s internet capacity as a population of more than 51m gradually gains access to the web, mostly for the first time, on their mobile phones. This chapter contains interviews with U Sai Saw Lin Tun, Chairman, Myanmar Post and Telecoms; Liman Zhang, Managing Director, Huawei; and Philippe Luxcey, Managing Director, Apollo Towers Myanmar.

Although it has one of the lowest electrification rates in the world, currently at about 30%, Myanmar is targeting total coverage by 2030. Despite the significant progress needed, the goal is seen as reachable, with Myanmar holding abundant hydro and solar resources, and considerable hydrocarbons potential. The country is also likely to be able to attract the capital to build the much needed generating infrastructure. While Myanmar needs to balance capacity challenges with transparency and environmental protection, it may be forced to make some strategic compromises in order for output to be increased on schedule. This chapter contains a dialogue with Ken Tun, CEO, Parami Energy Group; and Olivier de Langavant, Senior Vice-President Asia Pacific, Total E&P; and an interview with U Myint Zaw, Deputy Minister for Energy.

Since the political reforms of 2011, a number of significant steps towards liberalisation have been taken in the banking sector. The Central Bank of Myanmar has been given much needed autonomy and ATMs are now allowed in the country. Further aiding accessibility, mobile banking services have been introduced. New private banks are being set up and foreign banks have been granted licences to open branches. After years of stop-and-go liberalisation, a critical mass of changes has been instituted that promises to improve sector performance and greatly contribute to the development of the country. This chapter contains interviews with U Kyaw Kyaw Maung, Governor of the Central Bank of Myanmar; Linus Goh, Head of Global Commercial Banking and Executive Vice President, Oversea-Chinese Corporation; and Daw Chawsu, Head of International Banking, Kanbawza Bank; and a viewpoint from Brad Jones, CEO, Wave Money.