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Unlocking potential to raise productivity and increase exports in Myanmar's agricultural sector
OBG
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Myanmar’s fertile soils hold significant potential to lift the country’s economy from a basic grain producer to a high-value goods exporter. However, the evolution of farming has long been stifled by limited public spending, a legacy of unconstructive land policy, partial infrastructure gaps and limited access to finance. In addition, many farmers still lack modern cultivation techniques, sowing…

Overview

Manufacturing to serve as key growth driver in Myanmar's economy
OBG
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Recording steady growth in recent years, Myanmar’s industrial and retail sectors have been buoyed by solid macroeconomic fundamentals, economic liberalisation and regulatory reforms encouraging investment and expansion. In industry, the new administration of the National League for Democracy (NLD) has set a bold industrialisation target, with manufacturing expected to become one of the country’s…

Overview

Major changes to Myanmar's education sector under way
OBG
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The newly installed government of the National League for Democracy (NLD) has put education at the heart of its reform agenda, recognising its potential for lifting the country out of poverty. More money is being channelled into the sector as officials seek to build a 21st century education system to help push Myanmar into the ranks of the upper-middle-income nations by 2030. Fundamentals The vast…

Overview

Myanmar rolls out large-scale infrastructure projects
OBG
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Spanning a vital geographic area and sharing borders with India, China, Thailand, Bangladesh and Laos, Myanmar is poised to see its transport sector post double-digit growth in the coming years. The transport and logistics sector is bolstered by the country’s 54m-strong population, surging air passenger and trade volumes, and rising urbanisation. Economic liberalisation in Myanmar has not been…

Overview

Myanmar's government makes health care investment key policy
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The state of health in Myanmar is gradually improving, with significantly higher levels of funding being allocated by the government. Foreign donors and private investors are looking to participate in the fast-expanding service sector. To ensure its 56m people have access to better care, and mindful of the challenges, the government is increasingly open to assistance from foreign governments, NGOs…

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Myanmar's tourism industry seeks to build on recent successes
OBG
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When Myanmar recently began opening its doors to the outside world, tourists rushed at the chance to see a country that had not only been closed to them for decades, but that also boasted a rich culture and heritage. The country continues to attract a steady stream of overseas visitors to established sites from Yangon to Bagan and Inle Lake, and a growing economy provides Myanmar citizens with new…

Overview

Guide to reform and regulations in Myanmar's tax regime
OBG
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Regime Change Progressing Changes in Myanmar’s tax regime continued to make progress in FY 2015/16 and 2016/17. Of all these changes, the new Special Goods Tax Law (SGTL), which was promulgated on January 18, 2016, is the most remarkable. Now the SGTL will regulate taxation on 16 items termed “special goods” previously placed under the jurisdiction of the Commercial Tax Law (CTL), and thus eliminate…

Overview

Depth of potential: Azeem Azimuddin, CFO and Advisor to Chairman, Aya Bank; Antony Picon, Managing Director, Colliers International;
OBG
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Can you discuss the main challenges that banks might encounter in their efforts to drive a profitable mortgage market here in Myanmar? AZIMUDDIN: There are structural issues and there are operational issues. On the operational side, there is no central land registry. There are also difficulties concerning inheritance and similar legal challenges relating to perfection of security and foreclosure.…

Overview

Myanmar opens up for investment
OBG
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A country undergoing profound and rapid change, Myanmar is today emerging as one of Asia’s most sought-after investment destinations. Its opening to the global economy has come after decades of military rule, during which a long period of isolation and internal conflict was followed by an era of gradual disengagement from politics by the army. This retreat took a decisive step forward in November…

Overview

Ongoing financial reforms in Myanmar strengthen oversight of financial sector
OBG
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In the wake of sweeping reforms undertaken since 2011, Myanmar’s banking sector has been advancing at a rapid pace to become safer, sounder and better regulated. The majority of banking institutions are rising to the challenge by adopting international best practices, especially in terms of accountancy, and investing in systems that promise to transform the way they operate (see analysis). “The…