Country Overview

  • President Thein Sein has vowed to triple the size of the economy within three years and roll out a privatisation programme. This promise to triple per capita GDP to US$2400 by fiscal year 2015 would bring it in line with Vietnam.

  • Population of 51 plus million people, 90% of which are literate. English is widely spoken as compared to many neighbouring countries.

  • Agriculture is the key sector of Myanmar's economy. It provides employment to two thirds of the population, contributes 58% to the county's GDP and 48% of its exports.

  • Geographically Myanmar serves as a bridge between South Asia and South East Asia and connects the world’s two most populous countries China and India.

  • Increased access to aid and trade could provide Myanmar with the ability to realise its potential and develop into the next emerging market in Asia.

  • Managed float of the currency the Kyat in April 2012, making it easier for firms to invest in Myanmar.

  • The development of the ASEAN Economic Community in 2015 connecting a region of 600 million people will accelerate the development of Myanmar.

  • Relatively low level of competition with only a handful of foreign companies in the market means this is a great opportunity for companies who can enter the market early.