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Overview

Myanmar leverages natural advantages to attract foreign investment
OBG
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In what is considered to be the last frontier market in South-east Asia, the pace of business-friendly reforms is quickening, with a view to becoming a preferred destination of investment in a region that is experiencing the effects of a global repositioning in trade and manufacturing. Following decades of military rule that maintained a socialist and centrally planned economic model that cut…

Overview

Myanmar's CEOs have their say on the country's economic outlook
OBG
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Citizens received their last taste of participatory democracy in 2015 with general elections that resulted in a civilian government, although the military maintained control of several key state institutions and still has a strong presence in the national parliament under the constitution. Hopes were high then that the government, led by the National League for Democracy (NLD) and its revered…

Overview

Myanmar CEO Survey:
OBG
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The country’s ongoing transition from authoritarianism to democracy will reach its next milestone in 2020, when general elections will be held in union, state and regional legislatures. The polls will take place almost 10 years after Myanmar began the gradual process of opening its economy to the world and granting democratic freedoms to a population that had lived under military rule for some…

Overview

Myanmar's economy expands with new investment incentives and trading relationships
OBG
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Since initiating the process of liberalising its economy and encouraging greater foreign participation, Myanmar’s international investment inflows and trade have expanded significantly. This has gone hand in hand with strong domestic economic growth, even at a time of global trade slowdowns and protectionist headwinds. Capitalising on its strategic location as a crossroads between China,…

Overview

International trade bolstered by greater regional integration and new trade pacts
OBG
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Global trade faces protectionist headwinds that are dampening the outlook for growth in the coming years. According to the World Trade Organisation (WTO), trade volumes grew by close to 3% in 2018 and are expected to decline slightly to 2.6% in 2019 before rebounding to 3% in 2020. This may be the first time since the 2007-08 global financial crisis that growth will fall below a 3% average,…

Overview

Emerging markets respond to retrenchment of overseas banking operations
OBG
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In the three decades before the 2007-08 global financial crisis, the world’s financial networks became increasingly interconnected. Financial system regulatory convergence and the growing penetration of World Trade Organisation rules, as well as the creation of currency unions such as the euro, resulted in a surge in cross-border capital flows. Global banks began to see the emergence of a…

Overview

Banking sector formalisation and financial inclusion open Myanmar's market up to foreign participation
OBG
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The pace of reform in Myanmar’s banking sector has been increasing in recent years, with liberalisation taking a major step forwards in November 2019 when the Central Bank of Myanmar (CBM) announced that foreign banks would be able to get a licence to engage in onshore retail through a subsidiary or joint venture from 2021. These steps follow the trajectory of reform launched in 2016 by the…

Overview

Nhon Luc Ly, CEO, AIA Myanmar; Son Nguyen, Country President, Chubb Life Insurance Myanmar; Daw Zarchi Tin, CEO, Dai-ichi Life Insurance Myanmar; and Asit Rath, CEO, Prudential Myanmar Life Insurance: Interview
OBG
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Interview:Nhon Luc Ly; Son Nguyen; Daw Zarchi Tin; Asit Rath Where should insurers look to increase insurance penetration rates in the consumer market? NHON LUC LY: Myanmar is one of the latest and fastest-growing countries to enter Asia’s consumer market. Now that we have received our licence, we are excited to work on raising awareness about life insurance and its benefits to the people…

Overview

Liberalisation brings international investment to Myanmar insurance sector
OBG
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Recent years have seen Myanmar’s insurance sector take significant steps forwards, with liberalisation giving rise to a number of foreign insurance companies entering the market. At the same time, the country’s financial sector governance has been strengthened, while the economy has continued to grow. These developments bode well for the industry, with rising per capita incomes expected…

Overview

Myanmar's new digital strategy improves ICT development and network readiness
OBG
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The ICT sector is perhaps Myanmar’s most advanced area of the steadily growing economy. Nevertheless, the era of easy growth and customer acquisition for telecommunications players has come to an end, and a new phase of intense competition has ensued. As the ICT sector matures, there is room for companies to grab market share in the country’s nascent but fast-growing digital economy. Oversight…