Myanmar Economy

We live in a dynamic world, where the economic situation of a country can change almost literally in the blink of an eye. The major economic crisis that struck in 2008 is one of the most demonstrative examples for this: in a few hours, the economy of the USA and the economy of many, many other countries on Earth dropped in an almost incredible way.

However, the fact that the world is in a constant change can be a good thing as well, especially if you are an entrepreneur who can seize the right moment to invest in something. Myanmar may be the next big thing when it comes to business and you may have started to consider looking for business opportunity in Myanmar as well. If that is so, then you absolutely have to read what follows next.

For example, the travel industry could be a great place to start with. Myanmar definitely has a lot to offer to its tourists, but someone will have to take care that the tourists feel truly safe and comfortable in this country. If you want to invest in this sector, then you will want to know that the climate in Myanmar makes it perfect for various types of traveling attractions, since the North is suitable for skiing, while the South is suitable for beach-like activities (including high-end travel attractions such as scuba-diving).

Of course, there are other sectors of economy in which you can invest right now (such as the wood industry or the fishing industry), but before you do it, do make sure that you learn everything there is about that industry’s situation in the country (including the laws ruling it and the economic prospectus).

Myanmar – The Truth about its Economy

When it comes to developing countries in the world, there are few out there with such an optimistic prospect as Myanmar. At the heart of Asia and with a lot of natural resources to exploit, this country’s future economic development is a lot like a reality TV show for entrepreneurs from all over the world waiting around to seize the perfect moment to invest in it and to start businesses there.

The truth is that Myanmar’s future depends on a series of factors that may transform it overnight in a great economic power (a “new tiger” such as South Korea, Taiwan and Dubai were back in their time). On the other hand though, the decisions that will be taken in the near future may also bring Myanmar on the brink of becoming the latest “white elephant” of the economy: a burden and something that is gorgeous but that is much too expensive to handle.

The very first thing Myanmar would have to do is to work out their digital system. In an era where every single piece of information travels at a very high-speed, a country’s economic development can be harshly influenced by its telecommunications system. Myanmar will have to emphasize on this part a lot and in a couple of years at most it could manage to reach a very high level from this point of view.

Also, another thing Myanmar officials will have to take care is the type of economy they want to focus on. While most of the emerging economies out there have been focusing on manufacturing, it seems that ever since it became free, Myanmar has focused almost exclusively on agriculture, which is not the most powerful out of all the economic sectors. If they work this out and start focusing on manufacturing, things could go very well from then on.

Furthermore, the fact that Myanmar is still an agriculture-based economy is in close connection that their urban field lacks a lot. As a matter of fact, it appears that most of the Myanmar settlements are rural and this is another thing they will have to work out with.

In addition to these things, a set of laws to encourage foreign entrepreneurs and investors will definitely be extremely attractive for a lot of them out there. Managed right, this country could multiply the size of its economy at least 4 times by 2030.

Although the situation in Myanmar is still not very stable, there are a few adventurous entrepreneurs and investors out there who have already started doing business there. Still, if you decide to make this step, you will have to acquire as much information as possible on the types of businesses that could be profitable at the moment in this country.