Breaking Business as Usual

Market-based reforms and the opening up
of trade and investment initiated over the past four years
have had a positive impact on growth in Myanmar. These have
enhanced private sector participation and increased the role
of exports in the economy. Reforms have included streamlined
business entry procedures, reduced export and import
licensing requirements, and enhanced public-private
partnerships and dialogue. Promoting private sector
competitiveness and inclusion in Myanmar have enormous
potential to drive job creation, economic diversification,
and structural transformation. This would involve improving
the investment climate with an emphasis on transparency and
predictability; reducing trade costs and strengthening
connectivity for economic integration; enhancing
public-private partnerships; and strengthening institutional
capacity to drive the reform process. The ongoing peace
process calls for careful sequencing of reforms, starting
with reducing the costs of doing business and engaging in
trade; consulting with local communities; and supporting
vulnerable groups adversely affected by economic changes.