While most industries have benefitted from an influx of foreign investment since the opening of the economy in 2011, the mining sector has yet to catch up. There are a few reasons for this, including legal inconsistencies and ongoing civil unrest in key areas. Through the implementation of mining law reforms passed in late 2015, many prospective investors’ concerns have been addressed by the legal…
Interview:Gavin McGillivray How has the private sector developed during the political and economic restructuring that has taken place in Myanmar in recent years? GAVIN McGILLIVRAY: Since 2010 Myanmar has seen striking progress, including the unification of the dual exchange rate; independence of the central bank; increased freedom of movement; an explosion of mobile connectivity; and a 10 place…
Interview: Sushma Swaraj What priorities were identified by the India-Myanmar Joint Consultative Commission (JCC)? SUSHMA SWARAJ: The India-Myanmar JCC, co-chaired by the two countries’ foreign ministers, is intended to promote the development of relations in promising areas for cooperation, such as security and defence, trade and investment, development partnership activities, and global and multilateral…
Interview:Goh Chok Tong In your opinion, what should the new government focus on to ensure the long-term growth and stability of Myanmar? GOH CHOK GOH: First and most importantly, it should focus on the smooth transition to a stable democracy. This means forming a government of national reconciliation and unity. It should be an inclusive government, and not a government of winner-takes-all.…
The South-east Asian region is one of the fastest growing economically in the world. It is a dynamic and exciting area within the Indo-Pacific, a region which straddles the Indian and Pacific Oceans, and which is home to around half the world’s population, about a third of the world’s GDP, and around a third of the world’s total exports. South-east Asia comprises an estimated 620 million people…
Interview: U Zay Yar Aung In what ways is it possible for Myanmar to play a larger role in forming new connections for regional trade and investment? ZAY YAR AUNG: Myanmar has many favourable factors to attract foreign investor attention, such as its strategic location between two economic giants – China and India – its proximity to Thailand, access to the Bay of Bengal, abundant land and water…
Interview: Adam McCarty What role do you expect transnational economic corridors to play in the Mekong Region? ADAM McCARTY: The corridors connecting Myanmar to China, Thailand and Singapore will be fundamental to the country’s rapid economic development. Increased connectivity is already sparking the rise of regional production centres, and it will bring further economic integration, with ASEAN…
Interview:Dr Kan Zaw How would you assess the development of infrastructure capacity since 2011? What projects are under way to ensure economic evolution? DR KAN ZAW: Physical and social infrastructure is a top priority. Myanmar is strengthening its economy by constructing more roads and expanding physical infrastructure for telecommunications, electricity and airports, as well as social infrastructure…
Interview: Melvyn Pun Where do you see the biggest risks related to property development in Myanmar, and how can those risks be mitigated by new arrivals? MELVYN PUN: It’s not an easy market for new developers. As with all businesses in Myanmar, bureaucracy is not always well understood – the number of permits you need, the criteria, etc. It’s still somewhat a work in progress. There are also…
Interview:Axel van Trotsenburg How would you assess Myanmar’s institutional capacity to implement its development goals? AXEL VAN TROTSENBURG: Myanmar is going through a triple transition: from military rule to democratic governance; from conflict to peace; and from a state-oriented to a market-oriented economy. As one of the country’s leading development partners, the World Bank hopes…
