Fortunate to be endowed with a wealth of natural assets, Myanmar is well positioned
to engage a multi-pronged development strategy that draws on agriculture, mining and
extraction, manufacturing and services. For the strategy to be a success, the internal
peace process and renewed relations with major bi-lateral and multi-lateral partners will
be important. Myanmar can also benefit from its advantageous location between major
growth poles and markets, such as China and India, and its proximity to the ASEAN
tigers to regain – or even exceed – the importance it once enjoyed as a regional hub.
Myanmar has already undertaken some major reforms and the political will to take
them even further appears strong. However, the country will need to address important,
long-standing issues related to the economy, such as an environment that is still not very
conducive to business, the lack of skilled labour, and underdeveloped infrastructure.
Fortunate to be endowed with a wealth of natural assets, Myanmar is well positioned
to engage a multi-pronged development strategy that draws on agriculture, mining and
extraction, manufacturing and services. For the strategy to be a success, the internal
peace process and renewed relations with major bi-lateral and multi-lateral partners will
be important. Myanmar can also benefit from its advantageous location between major
growth poles and markets, such as China and India, and its proximity to the ASEAN
tigers to regain – or even exceed – the importance it once enjoyed as a regional hub.
Myanmar has already undertaken some major reforms and the political will to take
them even further appears strong. However, the country will need to address important,
long-standing issues related to the economy, such as an environment that is still not very
conducive to business, the lack of skilled labour, and underdeveloped infrastructure.
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