Odyssey Advisory

Invest and Grow with Myanmmar

Economic Development of Myanmmar

The Burmese government has initiated notable economic reforms. In October 2011, 11 private banks were allowed to trade foreign currency. On April 2, 2012, Burma's multiple exchange rates were abolished and the Central Bank of Myanmar established a managed float of the Burmese kyat. In November 2012, President THEIN SEIN signed a new Foreign Investment Law. Despite these reforms, the Burmese government has not yet embarked on broad-based macro-economic reforms or addressed key impediments to economic development such as Burma's opaque revenue collection system.

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Yangon Investment Climate

The World Bank has begun a survey of more than 1300 companies to help identify barriers to doing business in Myanmar, it announced in Yangon on November 25.

One of the objectives of the survey is to determine the main obstacles to growth for small businesses, the bank said in a statement.

Other objectives of the survey include identifying the main barriers to exports and determining how productivity and labor costs in Myanmar compare to other countries, it said.

The survey of the business environment will involve interviews with almost 1,400 small and large manufacturing and services companies, both domestic and foreign, the statement said.

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Get your Investment Guidebook!

Myanmar contains a wealth of possibilities for investment, given the pace at which the economy is developing and the country is opening up. It is critical for anyone considering inward investment to have a sound understanding of the environment in which businesses operate. This guide aims to provide an overview of the legal and regulatory structures which businesses must negotiate when considering investment in Myanmar, and sets out the key pieces of legislation that may be relevant.

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