Between the 1950s and 1960s, Myanmar was the largest rice exporter in the world. Today, it places behind world leaders Thailand and Vietnam. Even in rice production levels, fellow ASEAN nations such as Thailand, Vietnam, Indonesia and the Philippines are yielding more than Myanmar. However, the potential is high for the land- and water-rich Myanmar to become a major...
An estimated 45% of Myanmar’s GDP is provided by the country’s agricultural sector, which also employs about 70% of the domestic labour force. With Myanmar’s economy expected to grow 8.5% in 2014/15, according to the World Bank, the government hopes that reforms in the agriculture sector will contribute to higher incomes and job creation. However, despite various reforms...
Major demand for real estate is being driven by Myanmar’s significant economic growth, and market participants are looking forward to the arrival of new foreign investors. Thanks to the current government’s economic and political reforms since 2011, Myanmar is seeing broad growth in sectors such as oil and gas, telecommunications, manufacturing, construction and tourism...
Evidence of the construction boom in Myanmar is visible throughout the country and especially in Yangon. The old capital has been awakened and is on an express track to becoming a modern city, with the number of public works and concrete buildings rapidly rising in the last four years. This trend is set to continue, as the economy is on track to grow 7.8% in both FY 2014...
A much-anticipated reform in the real estate sector for 2014 was the introduction of the draft Condominium Law, but a series of disagreements among lawmakers has delayed its introduction to an unspecified date. The draft law is now expected to be re-submitted to the parliament in January 2015. The law, if approved as proposed, will allow foreigners to own apartment units...
In August and September 2014 two new mobile network operators (MNOs) launched in Myanmar, delivering state-of-the-art services to compete with the state’s monopoly. The country is now a fierce telecoms battleground as each company vies to attract Myanmar’s 51m potential mobile users. From under 10% mobile penetration in 2013, the country is due to exceed 97% teledensity...
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