Premium Essay

Doing Business in Burma

In:

Submitted By soethuwin
Words 1074
Pages 5
COUNTRY HIGHLIGHTS

MYANMAR 2014

The World Bank interviewed a representative sample of the private sector, composed of 632 establishments, between February and April 2014. The Enterprise Survey covers several aspects of the business environment as well as performance measures for each firm. Below are the main highlights from the survey.
30

8
7

25

6
20
15

4
3

10

Percentage

5

Percentage

Private sector firms in Myanmar have reported spectacular sales growth since the onset of a series of government-initiated policy reforms in 2011. A 24% real annual sales growth rate puts Myanmar in the fastest growing private sectors as measured by y Enterprise Surveys (ES). The employment growth rate is positive but lower than the average of the economies in East Asia and Pacific (EAP).
Importantly, this remarkable sales growth took place despite great hurdles (see below), which is suggestive of continued growth that could be unlocked by further reforms. As Myanmar continues to open up to foreign investment, this growth will likely continue.

2
5

1

0
Real annual sales growth (%)
Myanmar 2014

0
Annual employment growth (%)
EAP

Low income

Access to finance remains difficult for firms in Myanmar
100

16

90

14

80

12

70
60

10

50

8

40

6

30

4

20

2

10
0

Percentage

Percentage

One of the biggest challenges for firms in Myanmar is access to financial services. The proportion of firms with a checking or savings account is 30% which is less than half the average for low income countries,
,
and close to a third of the average of EAP economies.
s.
This is one of the lowest averages across all countries s with ES data. Access to credit through banks is s worse still. Only 7% of firms report having a bank loan which is one-fifth the level for EAP or low

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