In recent years trade and investment in Myanmar have soared, buoyed by ongoing efforts to liberalise the economy and a successful political transition in November 2015 that saw the country’s first civilian-led government elected to power in modern history. Political reforms have brought significant economic benefits and with a host of domestic reforms, sustained growth is expected. While the country still faces challenges, including a transport infrastructure deficit and a lack of reliable electricity supply, it is seen as a destination of opportunity, and international investment is expected to remain strong in the coming years.
- Trade & Investment: Steady Progress – Although still in the red, Myanmar’s trade balance has been improving steadily over the past 10 years. The trade deficit fell from $1.11bn in the first quarter of 2015 to $945.7m in the same period of 2016, highlighting the impact rising exports are having on commerce, and painting a brighter picture for long-term trade trends.
- Economy: Forward Motion – Seen as a source of regional strength, Myanmar is enjoying a period of exceptional growth and has the fastest-growing economy in ASEAN. Its GDP grew by 7.2% in 2015, following 8.7% growth in 2014.
- Mining: Buried Treasure – The immense wealth that lies beneath Myanmar’s soil continues to entice prospectors from around the globe, and recent structural reforms are expected to bolster the sector and attract much-needed capital.
- Financial Services: Progressive Reform – In the wake of major reforms started in 2011, Myanmar’s sector has been advancing at a rapid pace to become safer, sounder and better regulated. The majority of banking institutions are adopting international best practices and investing in systems that promise to transform the way they operate.
- Construction & Real Estate: Solid Foundations – The construction industry is set to become a major growth driver of Myanmar’s economy, as investors look to capitalise on economic liberalisation and a major public infrastructure programme. Residential real estate, particularly affordable housing, will remain the chief engine of growth over the medium term, although a large infrastructure deficit will see public works comprise a growing portion of activity.
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