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After nearly half a century of isolation, followed by five years of reform-driven growth, Myanmar’s economy is currently expanding at a record rate. As of late 2015 rising investment, growing exports and steadily increasing foreign involvement were expected to push GDP growth to 9.3% during FY 2015/16, which ends in March 2016. The current period of economic expansion is a result of two main causes: a raft of new government liberalisation policies, which have made it much easier to do business in the country, and the fact that Myanmar started from a low development base in 2011, which has meant wide scope for growth as its economy plays catch-up. Regardless, the nation’s rapid growth is widely seen as a positive indicator of future performance and potential. This chapter contains interviews with Axel van Trotsenburg, Vice-President for East Asia and the Pacific, World Bank; Melyvn Pun, CEO, Yoma Strategic Holdings; Dr Kan Zaw, Minister of National Planning and Economic Development; and Adam McCarty, Chief Economist, Mekong Economics.

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.

Peru’s current modern legal framework has now been in place for more than 25 years. After several different governments, global economic crises and other phenomena affecting the country, its underlying legal framework has essentially remained the same. Laws may have changed and some experiments have been conducted, but the country’s principles, laws, regulations and constitution have endured, which is no small feat for a growing developing country that battled domestic terrorism in the 1980s and 1990s. Importantly, throughout these years, the economy was opened up to foreign investors and the country strived to provide a business-friendly and predictable regime that welcomes investment. This chapter provides an overview of Peru’s legal framework, covering a range of topics from the mining and environmental permits to corporate law. This chapter includes an interview with Pablo Berckholtz, Managing Partner, Estudio Echecopar.

This chapter provides an overview of the Peruvian tax regime, covering areas of particular interest to investors such as individual and corporate income tax, capital gains regulations, stability agreements, Customs regulations and other investor considerations. This chapter contains an interview with Orlando Marchesi, Lead Partner, Tax and Legal, PwC Peru.

As diversification efforts continue, the education sector remains a top priority for the government of President Ollanta Humala. Since taking office in 2011, the Humala administration has initiated large-scale reforms aimed at improving educational outcomes. While the presidential elections in 2016 add a degree of uncertainty over the future, there seems to be enough political will to carry the current reform efforts forward. Meanwhile, a push to extend health coverage to more Peruvians has seen significant strides made towards achieving universal health coverage in the past decade. However, rising demand for health care is increasing the burden on already strained public facilities. The reforms initiated under President Humala are expected to increase efficiency and improve service delivery in public facilities in the medium-term. In the meantime, a dynamic private sector is set to benefit from growing demand for private services and new opportunities for public-private partnerships. This chapter contains interviews with Jaime Saavedra, Minister of Education; and Raúl Diez Canseco, Founder, Universidad San Ignacio de Loyola.