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Mechanisation and finance support leads to greater agricultural output in Myanmar
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Myanmar boasts diverse ecological conditions, fertile soils, and promising fisheries and aquaculture. The current administration has centred its vision for future economic prosperity and its drive to alleviate poverty around agriculture. Underlying the sector’s significance, agriculture accounted for 38% of GDP and 70% of the workforce in 2018. While Myanmar was once the world’s largest…

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Reforms set to increase foreign investment and stimulate Myanmar's mining sector
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Endowed with rich deposits of jade, ruby, copper, lead, zinc, tin, tungsten, silver, gold, antimony, nickel and barite, as well as a long history of mining that dates back to the 15th century, Myanmar’s mining sector has significant potential. Official statistics indicate that there are 291 known lead-zinc deposits, with a combined potential of 44m tonnes. More than 480 known deposits of…

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Increased visitor numbers from Asia support a revival in Myanmar tourism
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Situated in the north-west of South-east Asia, and sharing borders with India, Bangladesh, Thailand, Laos and China, Myanmar is one of the last frontiers of Asian tourism. Offering pristine beaches, abundant cultural and natural attractions, and a warm, hospitable population, the country has significant potential – especially considering the thriving travel markets in neighbouring states.…

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Global hospitality sector evolves to accommodate more international tourists
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Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.57bn per annum. With the global middle class estimated by the US-based think tank Brookings Institution to be expanding by as many as 160m people per year until…

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Increased budget and foreign investment to improve teaching standards in Myanmar
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Driven by increased public investment and a series of key reforms Myanmar’s education sector has undergone a significant transformation following the transition to democracy that began in 2011. The budget allocation for the sector has risen steadily to be nearly six times the amount it was in FY 2011/12, reaching MMK1.76trn ($1.15bn) in FY 2018/19. Furthermore, liberalisation has resulted…

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National plans and private support improve Myanmar's health outcomes
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Health care expenditure has been rising in Myanmar, and the government is implementing three national health plans (NHPs) to lead the country towards the goal of universal health care (UHC) by 2030. Furthermore, private investment has become increasingly welcome and significant growth potential exists in the insurance market. Nonetheless, the sector requires more systematic data collection…

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Demand for pharmaceuticals is on the rise worldwide
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In recent decades the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by 2018. Even in the most newly opened markets, drug…

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Reforms to increase foreign investment and broaden the tax base in Myanmar
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Myanmar remains an attractive investment destination in South-east Asia largely due to its strategic location, favourable demographics and natural resources. The country has implemented significant reforms to foster foreign investment since 2011. For example, the Foreign Investment Law of 2012 was subsequently replaced by the Myanmar Investment Law (MIL) of 2016 to further promote foreign investment…

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Liberalised legal framework improves the business climate for foreign investors in Myanmar
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The year 2019 marked the continuation of several policy shifts brought about by the 2017 Myanmar Companies Law (MCL). The authorities have begun to issue new policies in order to allow foreigners to invest in sectors that were otherwise reserved for Myanmar citizens, such as banking and trading in listed companies. Among the most notable changes of the MCL was the updated definition of a “foreign…

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Useful information for travellers to Myanmar
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Etiquette In a formal setting, “U” should be used in front of a name when addressing a man and “Daw” when addressing a woman. This roughly translates to Mr. and Lady. It is common practice to remove footwear before entering a workplace or home; removing shoes and socks before entering a pagoda or temple is required. A handshake is usually the first introduction in a business setting,…