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Myanmar needs to address structural transformation of the economy: WB

Key takeaways from the latest (Oct 2019) World Bank ‘Asia Pacific Economic Update – Weathering Growing Risks’ pertain to using policy spaces available for the countries in order to boost and sustain growth; to continue trade openness, including through deeper regional integration (within ASEAN and R-CEP and other bilateral arrangements) and enact structural reforms to […]

Groups and businesses gather in Loikaw for community tourism conference

Community-based tourism could become an alternative source of income for the communities in Kayah State and beyond, replacing developments which damage the environment. Aiming to bring together tourism businesses and community-based groups, the fourth National Conference on Communities and Tourism will be held in Loikaw, Kayah State from June 6 to June 8. The seminar […]

Venturing into Myanmar: Opportunities, misconceptions and challenges

1. What are some of the latest developments in Myanmar right now? Myanmar is expected to remain an outperformer in Asia, with real GDP growth estimated at 7.1% a year in 2018/19 – 2022/23. Even though the United States lifted sanctions in October 2016, overall foreign investment has declined. The amount of foreign investment approved […]

Myanmar’s business community must tap cluster potential to compete on global scale

“There are clusters formed by firms in similar sectors. In the Mandalay Region, the Directorate of Industrial Supervision and Inspection formed industrial clusters since 2014 and there are now 111 groups in 15 industrial clusters.” “But the business community in Myanmar is not very interested in this potential,” he said. “Businessmen here prefer to work […]

Expanding urban population changes property needs

Cities are growing twice as fast as the total population and will be crucial for Myanmar’s economic future, said Putu Kamayana, adviser at New Star Light Construction and former Asian Development Bank country head. Growth will not be focused solely in Yangon in the years ahead, and other cities will also be home to modern […]

Challenges and opportunities in Myanmar

As Myanmar steps back onto the world stage with renewed vigour, living in the country during these exciting times is like being in a live-action movie. Every day brings new challenges, new developments and new opportunities. But underneath the glitz and glamour of visits from heads of state, hosting the SEA Games, and openings of […]