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Analysis

Discrepancies in data on trade volumes have many causes
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Two things are clear about Myanmar’s international trade: it is growing, and fast. By just how much is less certain – sources vary widely in their estimates, and even the best data available have obvious holes. Myanmar’s trade figures, published by the Central Statistical Organisation (CSO), show merchandise imports rocketing upward in recent years, from $4.2bn in FY 2009 to $13.8bn in FY 2013…

Analysis

Japanese investment is flowing into a range of sectors
OBG
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As Myanmar has changed course since 2010 and pursued political and economic reforms, Japan is the country that has responded most enthusiastically, both to offer assistance and to take advantage of emerging investment opportunities. Although Japan is not seeking to be the monolithic major partner that China was to Myanmar while it was under international sanctions, the level of Japanese involvement…

Analysis

Fiscal policy changes include increasing public spending and boosting tax collection
OBG
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Myanmar is in the midst of a historic transformation of both its public sector and fiscal policy towards international norms. The country traditionally had a very small civilian government and many large state enterprises, all overseen by a politically and commercially powerful military. State enterprises have traditionally accounted for most public revenues, while central bank printing of…

Analysis

Taking steps towards greater regional integration and trade
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Myanmar and nine other South-east Asian countries are preparing to ring in the formal birth of the ASEAN Economic Community (AEC) on December 31, 2015, but they are not preparing to celebrate. Instead, they are engaging in a collective soul-searching exercise. At the November 2014 ASEAN summit in Naypyidaw, the crowning event of Myanmar’s chairmanship of the bloc in 2014, ASEAN leaders admitted…

Analysis

Despite the issuing of licences to nine foreign banks, the extent of their involvement remains unclear
OBG
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The central bank’s decision to award bank licences to nine foreign groups in October 2014 was widely hailed as a major breakthrough in bringing Myanmar’s underdeveloped financial sector into the modern era. But the really big decisions over how much foreign involvement will be allowed still lie ahead. The move gives foreign banks a foot in the door, allowing them to carve out a small niche market…

Analysis

The Tourism Master Plan brings sector goals into focus
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In June 2013 the Myanmar Ministry of Hotels and Tourism unveiled its Tourism Master Plan, which aims to set clear guidelines for the development of the tourism sector over the next seven years. The government is hoping to channel the industry’s short-term growth into long-term benefits for the country. The master plan, developed with the help of the Norwegian government, the Asian Development Bank…

Analysis

International hoteliers are eager to open their doors
OBG
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After decades of sluggish growth in the tourism sector, Myanmar’s hotels are now cashing in on the surge of new arrivals, with nightly rates soaring up to five times what they were a decade ago. Furthermore, new entrants are now keen to enter the market, and some of the world’s best-known brands have plans to expand into the country. A Troubled Past In the late 1990s and early 2000s tourists…

Analysis

Liberalisation of domestic airspace has led to competition between established airlines and newer ones looking to expand
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Myanmar’s domestic airline space has become increasingly crowded in recent years as local conglomerates vie to establish their own airlines. At the same time, the industry’s service quality and safety record require improvements, even as rates for travellers remain high. International airlines are keen to engage with the growing market, and a number of airlines are adding cities in Myanmar to their…

Analysis

Achieving full electrification through new power plant projects remains a priority
OBG
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As reforms aimed at integrating Myanmar into the world economy gather pace, the country is making efforts to boost its power generation capacity. The Myanmar National Electrification Plan (NEP) aims to achieve 100% electrification by 2030, an ambitious plan given that as of September 2014, only 33% of the population had access to electricity, the peak load is 2171 MW and per-capita consumption is at…

Analysis

Legislative reforms have made the sector more accessible
OBG
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The oil and gas sector has formed one of the most important objects of the government’s ambitious programme of economic reforms over the past few years. A rise in licensing activity will contribute to increased exploration, responding to a surge in demand for oilfield services. Foreign investment from some of the world’s largest oil and gas companies has played a pivotal role in developing the…