Trade & Investment
From The Report: Myanmar 2016
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With a newly elected government in power and nearly five years of growth in foreign trade and inward investment under its belt, Myanmar is widely expected to become increasingly integrated into the regional and global economy in the coming years. In the fiscal year (FY) through to April 2015, the nation reported total foreign trade receipts of $29.16bn, up from $18.17bn in the same period in 2011/12/ Foreign Direct investment (FDI), meanwhile, quadrupled from $1.9bn in FY 2011/2012 to $8.1bn in 2014/15. The falling value of the Myanmar kyat against the US dollar; a lack of high-quality transport and electricity infrastructure; restrictive investment and trade regulations; and a relatively underdeveloped legal framework are issues that will require considerable attention. However, based on the past five years of liberalisation, the country’s leaders appear to be serious about continuing to open up the economy, attract increased amounts of FDI and boost trade. This chapter contains interviews with U Zay Yar Aung, Chairman, Myanmar Investment Commission; and Gavin McGillivray, Head, UK Department for International Development; and a viewpoint from Julie Bishop, Australian Minister for Foreign Affairs.

Articles from this Chapter

Overview

On point: Prioritising long-term liberalisation and growth, plus increased regional integration
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With a newly elected government in power and with nearly five years of growth in foreign trade and inward investment under its belt, Myanmar is widely expected to become increasingly integrated into the regional and global economy in the coming years. In the fiscal year (FY) through to April 2015, the nation reported total foreign trade receipts of $29.16bn, up from $18.17bn in the same period in 2011/12. Foreign direct investment (FDI), meanwhile, quadrupled from $1.9bn in FY 2011/12 to $8.1bn in…

Interview

Investment opportunities: OBG talks to U Zay Yar Aung, Chairman, Myanmar Investment Commission (MIC)
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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 sources, young population and labour resources. Myanmar’s economic transition is focusing on trade…

Analysis

Neighbourly relations: The nation is set to benefit from increased regional integration and cooperation
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In late November 2015 ASEAN signed the Kuala Lumpur Declaration, formally establishing a single market among the 10 ASEAN member states. Known as the ASEAN Economic Community (AEC), the endeavour aims to integrate the region’s economies into a unified market of 620m people and with combined annual output of $2.4trn. Taken as a whole, the AEC’s population is larger than the EU’s (by more than 100m people), and also has a significant youth segment, while many European nations are home to ageing…

Interview

A challenging transition: OBG talks to Gavin McGillivray, Head, UK Department for International Development (DFID), Myanmar
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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 jump up the World Bank’s “Doing Business” country rankings in terms of ease of doing business.…

Interview

Friendly ties: Julie Bishop, Australian Minister for Foreign Affairs, on the launch of the Australia-ASEAN Council
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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 with a combined GDP of around A$3.6trn ($2.87trn), so it is an area of enormous importance to us,…