Country Overview

 

Myanmar has significant potential created by its inherent positioning:

  • Strategically located between China, India and ASEAN
  • Over 51 million population of which 65% are working age
  • Rich in natural resources ranging from natural gas, oil, gold to minerals
  • Significant agribusiness potential due to landmass  and a coastline of  1,930 Km
  • Pristine beaches and historical heritage sites should draw tourism which is currently less than 3.1 million compared to 27 million visitors to Thailand
  • A young consumer market
  • Potential to export manufactured goods and agricultural produce
  • Pressing need to upgrade infrastructure as only 30% have access to electricity and 60% have mobile phones
  • Although the financial services sector is basic and small, this sector has significant potential for growth as it is fundamental to Myanmar’s development

 

The November 2015 election resulted in an National League for Democracy (“NLD”) controlled parliament. This is new for Myanmar and all parties will now need to work together for the first time. The people have vested significant hope and trust in Daw Aung San Suu Kyi to tackle a number of issues that will require attention. The four most important are:

 

  1. to continue the peace negotiations that were started by her predecessor but only partially signed;
  2. to overhaul the economic management of the country to create opportunities for the rural communities and the business sector;
  3. to restructure the country’s administrative structure; and
  4. to bring peace to Rakhine State.

 

For more information on this fascinating yet complex country, we invite you to review the Chairman’s Statement in our latest Annual Report or visit the sites set out on our Links page.

 

 

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