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Millions of thanks to Saya Renaud for sharing his knowledge from Myitkyina, to Naypyitaw; to Maël and Romain for their enthusiasm and their useful comments; to Michel Baumgartner for his rigorous corrections on spelling and style, very useful when you are typing with a QWERTY keyboard; to Thusitha Perera for his attentive proof reading; to Pyae Sone and Min Taw for their kindness, good mood and help at any time ; to Jessica and Max for their hospitality ; and eventually to our friends who believed, followed and contributed to One Myanmar’s adventure !
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Since 2011, the liberalization of the Myanmar economy has accelerated, with a number of reforms being put in place.
If the European, American and Australian financial and economic sanctions have only recently been waved, it doesn’t mean the country was hermetically closed under the junta. Its main economical Asian partners kept close commercial relations by exchanging mainly consumers’ goods against agricultural products and raw materials.
Le pays reste très peu industrialisé et 70% de la population vit en zone rurale. Les indicateurs de développement économique montrent d’importantes disparités. L’électricité demeure un luxe rare et le manque d'infrastructures, une contrainte majeure au développement.
The country is still little industrialized, and 70% of its population lives in rural areas. The indicators of economic development show important disparities. It is still rare to benefit from electricity and the lack of infrastructures is a major obstacle to development. Yet, foreign investors are starting to be attracted by the privatisation of some sectors, thinking both about new markets and the possible access to numerous natural materials.
Since 2011, the liberalization of the Myanmar economy has accelerated, with a number of reforms being put in place. If the European, American and Australian financial and economic sanctions have only recently been waved, it doesn’t mean the country was hermetically closed under the junta. Its main economical Asian partners kept close commercial relations by exchanging mainly consumers’ goods against agricultural products and raw materials. The country is still little industrialized, and 70% of its population lives in rural areas. The indicators of economic development show important disparities. It is still rare to benefit from electricity and the lack of infrastructures is a major obstacle to development. Yet, foreign investors are starting to be attracted by the privatisation of some sectors, thinking both about new markets and the possible access to numerous natural materials.
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infography
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Further readings
• Turnell sean, Fiery dragons, banks, moneylenders and micro finance in Burma, NIAS Press, Cophenagen, 2009, 389p.
How did the richest country in Southeast Asia at the dawn of the 20th century become the poorest at the dawn of the 21st century? The answer lies in Burma’s monetary and financial system, and its role in the country’s tortured economy history
Improving the business environment has been a major aim of Myanmar’s reforms. However, the formal and informal economic institutions that govern exchange and shape the business environment changed significantly under a half-century of socialist and military government. The socialist leadership eliminated many market-supporting institutions made unnecessary because economic activity was to be state planned. Under this framework, personal exchange became dominant and control of economic life widespread. The military government revived market exchange, but many institutions from the socialist era remained and continue to constrain private business today.
Economic growth remains strong in Myanmar, but signs of overheating have emerged due to supply bottlenecks and loose financial conditions, according to the IMF in its annual assessment of one of Asia’s fastest-growing economies.