In 2010, 1.26% of Myanmar's population was subscribed to a land-line telephone; 1.24% to a mobile telephone; and 0.2% to the internet. In the past, telecom services were provided solely by the government. But to increase customer choice and promote competition, four licences will be granted to both domestic and foreign investors.
It is expected that Myanmar's Post and Telecommunication Department will be divided into two units, each taking a licence. One of these newly divided units will operate the existing network. The third licence will go to the military. The fourth... [ More ]
The country is woefully short of electricity to meet the needs of industry and private citizens. About a quarter of all energy produced by the current system is wasted by the time it reaches customers. The demand for energy in Myanmar is 30 percent more than the available supply. Furthermore, many businesses are forced to rely on private generators to supply electricity during frequent power failures and general shortages.
Burma generates a maximum of about 1, 610 MW during the monsoon season and 1,340 MW during the summer season. Of the 1,610 MW, 1,270 MW is generated by... [ More ]
Myanmar’s Mining Law is a simple mining law and may need certain amendments and refinements. But the current issues facing the mining industry are more of a policy nature than regulatory. Issues regarding ownership ratio in equity joint ventures, share of production in production sharing contracts, cost recovery matters, land ownership, dispute settlement rules, are all being reviewed to attract more foreign and local investment in the mining sector in Myanmar.
Agriculture is the most important sector of Myanmar's economy. It makes up 58% of the GDP, 48% of exports, and employs 70% of the nation's population.
Myanmar's Ministry of Agriculture and Irrigation (MOAI) welcomes investment in the following areas:
Up to 5,000 acres of land may be approved for investment. Permission may be granted for a total of 30 years. Extended permission is negotiable. You may be granted exemption from income tax for the first 3 years of commercial business.
Like other Asian neighbours, Myanmar's garment industry has huge potential and is already growing rapidly. Orders from South Korea increased from $120 million in 2010 to $240 million in 2011. Orders from Japan increased from $170 million in 2010 to $350 million in 2011.
The Myanmar Garment Human Resource Development Centre is aiming for 700 new factories by 2015 that will employ more than 100,000 people.
The Myanmar Garment Manufacturers Association is calling for more garment factories. For the sake of the country, installing new factories in states outside of... [ More ]
In 2003, the United States imposed sanctions to restrict the financial resources of Myanmar’s former military government. These sanctions squelched international trade, making it very difficult to export medical and surgical equipment to Myanmar, and destroyed industries that hitherto had funded local communities. Without this support, malnutrition became widespread.
The life expectancy in Myanmar is 64 years of age, and the child mortality rate is 62 for every 1,000 births. The infant mortality rate is 50 per 1,000 live births, and the maternal mortality rate is one the... [ More ]
The global value of outsourcing is estimated at $1.4 trillion per year. Companies – large, medium and small – have been left with little choice but to outsource their IT and business processes. Outsourcing reduces the impact of overhead expenses, allows companies to pay lower direct costs, and ensures that current resources are utilized to their maximum level without over exerting them.
Myanmar is one of the lowest cost destinations for outsourcing.
The shortage of property in Myanmar’s capital Yangon and the rising price trends for newly built residential and commercial real estate are prompting more and more foreign property developers to set foot in the country.
There is a huge undersupply of business office space. In late 2012, there was about 60,000 sq m of office space in Yangon, less than some individual office buildings in Bangkok.
Early 2013, office rentals in Yangon has gone up to US$ 85 / sq mtr per month.
Did You Know?
Myanmar Time is 6:30 hours ahead of Greenwich Mean Time. For example on a Monday at midnight in Yangon , it will be:
New York (Eastern Standard) 1230 hours on Monday
London (GMT) 1730 hours on Monday
Bangkok 0030... ... More