Myanmar's reform program and infrastructure plan to improve its investment environment and stimulate growth are explored in "The Report: Myanmar 2018" by the global research and consultancy firm Oxford Business Group (OBG)

Myanmar’s efforts to enhance its investment environment and stimulate growth through a series of wide-ranging reforms are explored in a new report from the global research and consultancy firm Oxford Business Group (OBG). 

As the country approaches the two-year anniversary of its first civilian-led government, The Report: Myanmar 2018 charts the impact of efforts to create regulatory certainty for investors through landmark legal developments such as the Investment Law, Companies Law and Condominium Law. 

The report also charts the country’s progress in plugging its vast infrastructure gaps in order to improve nationwide productivity and galvanize the construction, logistics, trade, and tourism sectors. 

Key issues examined include the steps being taken to tap a broader range of financing mechanisms, such as public-private partnerships, concessional loans from development partners, and treasury bond issuances, for the country’s planned port, rail and road works. In addition, OBG’s publication tracks the latest developments in the property market, which is poised for a period of heightened activity once remaining ambiguities on foreign ownership of residential apartments are clarified. 

With Myanmar proving to be an attractive draw for international manufacturers, the report highlights the policies that have been devised to promote the development of industrial clusters, increase competitiveness and expand capacity. 

OBG also asks what’s next for the country’s mining industry, given the abundance of untapped mineral resources it contains and improvements in the regulatory environment that have paved the way for key projects to be revived. Myanmar’s plans to attract private investment in liquefied natural gas (LNG) fired power stations and related infrastructure are another focus, as the country strives to achieve its ambitious target of 100% electrification by 2030. 

The Report: Myanmar 2018 contains contributions from Daw Aung San Suu Kyi, State Counsellor of Myanmar, Xi Jinping, President of China and Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Vietnam, together with a detailed sector-by-sector guide for investors. 

It also features a wide range of contributions from other high-profile personalities, including: U Kyaw Win, Minister of Planning and Finance; U Phyo Min Thein, Chief Minister, Regional Government of Yangon; U Khin Maung Cho, Minister of Industry; and Jin Liqun, President, Asian Infrastructure Investment Bank. 

Commenting after the launch, Oliver Cornock, OBG’s editor-in-chief said higher levels of capital inflows confirmed that Myanmar’s strengths, which include its strategic location, a large, untapped domestic market and myriad natural resources, were continuing to generate interest among investors, despite challenging economic conditions. 

“While lower global commodity prices have caused concern, Myanmar remains focused on enhancing its business climate by tightening up ambiguous legislation and improving public efficiency,” he said. “Although more needs to be done, the will that is being demonstrated, combined with the country’s competitive advantages, has not gone unnoticed by business leaders eyeing the country’s considerable potential.” 

Patrick Cooke, OBG’s regional editor for Asia agreed that ongoing reforms and extensive infrastructure pipeline boded well for Myanmar’s longer-term development, while also providing significant opportunities for investors keen to play a part in project implementation. 

“The pace of change amid national reconciliation and ongoing economic liberalisation has inevitably presented hurdles for Myanmar,” he noted. “However, our report shows that efforts to lay the foundations for the next phase in the country’s growth story are gaining momentum.” 

The Report: Myanmar 2018 marks the culmination of more than six months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, banking and others. The Report: Myanmar 2018 is available in print and online.  

(Myanmar Business Today: https://www.mmbiztoday.com/articles/reform-program-and-infrastructure-pipeline-take-centre-stage-2018-report-myanmar )

​