The Report Myanmar 2014

The “Golden Land”, officially known as the Republic of the Union of Myanmar and formerly as Burma, has undergone dramatic reforms in recent years under the administration of President U Thein Sein. The rapid transition from a military junta to an open economy has surprised the global community and will see Myanmar assume the ASEAN chair for the first time in 2014. Known as the ‘last frontier market’ Myanmar is rich in natural resources and has an established extractive industries sector, with one of the world’s oldest continuously producing oil fields. The country also enjoys significant mineral resources which remain greatly under explored by international mining firms - something the government is proactively trying to change. The easing of economic sanctions has accelerated the nation’s economic growth, but Myanmar still faces political challenges, including ongoing ethnic conflict and religious tensions. However, with greater access to international markets and a growing number of business opportunities, investors are cautiously optimistic about the country’s future.

While major strides need to be taken to promote inclusive growth, critical developments across the country’s economy continue to heighten investor appetite. This was given a significant boost with the victory of Daw Aung San Suu Kyi’s National League for Democracy (NLD) over the ruling Union Solidarity and Development Party (USDP) in the November 2015 national elections. The NLD is expected to build upon efforts taken by outgoing President U Thein Sein to improve transparency, promote peace and increase spending on health and education, which have to some degree alleviated the strain left behind by decades of military rule. With the incoming NLD administration expected to prioritise inclusive growth, the outlook for all segments of Myanmar’s population is looking significantly more positive.

The country’s location within the region and population of more than 50m will help it achieve growth, with international analysts predicting Myanmar’s economy to be worth up to $200bn by 2030. With elections set to take place in late 2015, the world is eagerly watching to see how things will unfold. After spending decades as one of the most isolated and least-developed countries in Asia, Myanmar is emerging as one of the world’s fastest-growing economies. Agriculture, manufacturing and mining are some of Myanmar’s top contributors to GDP, which was forecast to reach 8.5% in FY2014/15 and FY2015/16. While foreign investment is accelerating, there are ways in which it remains blocked. As the country continues to reintegrate with the global economy, continued reforms as well as the opening of more economic sectors to foreign investors will help unlock the country’s potential.

This comprehensive review of Myanmar's policies regarding inward direct investment covers such issues as trends in investment in Myanmar, responsible business conduct, regulation and protection of investment, investment promotion and facilitation, taxes, the financial sector, and infrastructure.

Updated by popular demand, this is the fourth edition of this important bibliography. It lists a wide selection of works on or about Myanmar published in English and in hard copy since the 1988 pro-democracy uprising, which marked the beginning of a new era in Myanmar’s modern history. There are now 2,727 titles listed. They have been written, edited, translated or compiled by over 2,000 people, from many different backgrounds. These works have been organized into thirty-five subject chapters containing ninety-five discrete sections. There are also four appendices, including a comprehensive reading guide for those unfamiliar with Myanmar or who may be seeking guidance on particular topics. This book is an invaluable aid to officials, scholars, journalists, armchair travellers and others with an interest in this fascinating but deeply troubled country.

In recent years trade and investment in Myanmar have soared, buoyed by ongoing efforts to liberalise the economy and a successful political transition in November 2015 that saw the National League for Democracy become the country’s first civilian-led government elected to power in modern history. Political reforms have brought significant economic benefits, as the US government moved to lift burdensome sanctions that had weighed on investor sentiment and trade growth. With the administration now moving to implement a host of domestic reforms, loosen internal trade restrictions and draft a new investment law, growth is expected to resume apace following a slowdown during the election year.