ISSN 2674-8053

economic transformations in Myanmar in the process of restoration of democracy by the government of the National League for Democracy, de Aung San Suu Kyi

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Myanmar, the largest country in Southeast Asia, has a population of approximately 53 millons of citizens, in an area of 676.578 km². Strategically located close to China, India and Bangladesh, the country plays a significant role both geographically, politically and economically in the region considered to have the greatest economic advance in the world. According to a report published by the Asian Development Bank, the continent's global domestic product will grow by 52% up until 2050, that is, more than half of the world growth rate. According to the opinion of a round table of the United Nations Development Industry, “…Asian countries began to move away from the low per capita income that had plagued them for decades and achieved higher GDP rates based on large-scale industrialization”.

Concurrent to this, Myanmar is going through a unique stage in its history, with the end, in 2015, of the totalitarianism of the military regime and the first democratically elected president since 1962, when the political repressions unleashed by the military began. The borders have finally been opened to the outside world and tourism is becoming popular in the formerly reclusive country. According to the database Trading Economics, between the years 2012 e 2018 the number of incoming tourists was of the order of 262.219,21.

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Myanmar is the 75th largest exporting economy in the world. your currency, The Myanmar Kyat (MMK), hit in 2017 a historic high. Its per capita gross domestic product adjusted to purchasing power parity has reached the level of US$ 5.591,60. In 2017 the country exported US$15 billion and imported US$21.2 billion, ending, however, the year with a negative trade balance of US$6.14 billion. Among the most shipped products to other countries, the main ones were petroleum-derived gas (US$4.07 billion); dried legumes (US$870 million); non-knit women's coats ($619 million), rice ($607 million) and refined copper ($516 million). The main export destinations were: China ($4.46 billion), Thailand ($2.66 billion), Japan ($US1.98 billion), India ($US804 million) and Germany ($663 million), the only country outside the region.

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As for the import tariff, the main products are refined oil (US$2.57B - which clearly demonstrates the lack of industrial infrastructure capable of refining in the country -; broadcasting equipment (US$977M); raw sugar (US$685M); cargo trucks (US$630M); motorcycles (US$557M), revealing the difficulties of the transport sector. Similarly, Imports come mainly from countries on the Asian continent, like china (US$8.34B), Singapura US($2.66B), Thailand (US$2.02B), India (US$1.14B) and Malaysia (US$993M). Analysis of the Burmese trade balance indicates that Myanmar is very dependent on other countries on the continent.. In contrast, the decrease in the amplitude of oscillations over the last few years is notorious., even with the maintenance of a negative trade balance.  

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Available in: http://pausemais.com.br/naypyidaw-cidade-fanstama/

After being kept isolated for approximately six decades, the country is now adapting to democratization, with the many opportunities and challenges it presents. proposes, also, to implement some of the projects initiated by the military regime, such as the move from the country's capital from Yangon to the newly built Naypyidaw, city ​​without tourist attractions, built between rice and sugar plantations. It is believed to have resulted from a protective initiative by the military, worried that Yangon's proximity to the coast would more easily expose the country to foreign invasion.

Naypyidaw, located closer to the rebellious regions of the country, where separatist movements and different ethnic groups pressure the government for greater rights for oppressed minorities, and known by journalists as “Ghost City”, for its large area (four times the size of london) still empty, has twenty-lane roads. Its population is formed, per hour, by bureaucrats and those in charge of completing the megalomaniac project.

your project, with design created to give the impression of a fortified city, was started in 2002, with estimated expenses between three and four billion dollars. According to the English newspaper The Guardian, it is noticeable that “driving through Naypyidaw, the purpose-built capital of Burma, it could be easy to forget that you’re in the middle of one of south-east Asia’s poorest countries”. The city has a safari, a complete zoo, at least four golf courses, restaurants with free and fast Wi-Fi, Besides, unlike many regions of the country, reliable electricity.

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Still as a reflection of the old regime, changes were made to the country's flag, established from the Constitution of 2008, the same one that changed the name of the country from Burma to Myanmar and created clauses that legitimize the maintenance of the military in power, preventing the great leader of the opposition to the military regime, Aung San Suu Kyi to govern as president. the colors red, green and yellow were once part of the flag of 1943, during Japanese domination in Burma. they mean solidarity, peace and tranquility, as well as courage and decision. The current flag has deleted the peacock image and has been replaced by a white star in the center of the flag.. The peacock had been introduced as a national symbol by King Alaungpaya, in 1757, a bird of great significance to Buddhists, who believe in its meaning of transcending difficulties and suffering, and openness and acceptance of religion, that congregates 90% of the population.

In this context marked by the challenges of redemocratization, Myanmar has experienced rapid economic growth in recent years, one of the fastest recorded on the entire planet. This process requires vigilance and the implementation of anti-inflationary measures, and nowadays, the country has been able to benefit from low inflation, financial and fiscal stability and one of the lowest levels of external debt in the entire region..

With the opening of the country, investment and trade have increased significantly, making it the second largest recipient of ASEAN investments. In addition, Myanmar attracted the largest amount of foreign direct investment among the "least developed countries in the world", in 2017, even with its low reputation due to the forced expulsion of tens of thousands of Rohingyas, part of its muslim population. About US$4.3 billion were invested, according to a report by the United Nations Conference on Trade and Development/UNCTAD. Trade policies and practices have been revised and adapted, to meet regional and international requirements, to global commitments and liberal principles, in the quest to break the country's isolation and increase its participation in blocs such as ASEAN.

Investment policies were also revised., to ensure a level playing field for all investors and create an enabling environment for trade and investment in Myanmar, Even if developed late, such policies have sought to increase the country's comparative advantages through communication technologies, facilitating the popularization of mobile phones, that not only serve the banking population., otherwise they also facilitate and expand financial inclusion by increasing system security. online and the mobile applications of banks, promoting and facilitating safer and easier business transactions. It is as if the country had escaped from fixed telephony and “jumped” directly to mobile telephony.

Due to this rapid economic growth, the current government of Myanmar attaches extreme importance to political and economic stability, what does it imply, directly, the preservation of peace and national reconciliation on the ethno-political level, in addition to competent management and effective macroeconomic governance. Even given the great need to develop the country's infrastructure, the Myanmar government is committed to maintaining fiscal discipline and preventing the fiscal deficit from rising above the 5% do PIB. At the same time, it seeks to reduce recourse to Central Bank financing to insignificant levels. For so much, it also seeks the support of the private sector through public-private partnerships to carry out various projects in the area of ​​infrastructure, adding pecuniary value for both business and government, and enabling innovations, the expertise and improvements in projects, that must be delivered on time, with previously budgeted values. Among these projects, Mandalay and Hanthawaddy airports are being built by both domestic and foreign companies, as to JALUX Inc, a Mitsubishi Corporation (MC) e a Myanmar’ SPA.

Fruit of these practices, Myanmar's business environment is changing, with facilitating reforms both in the sphere of trade and in the labor market. Even so, the informal work sector is large and poses challenges for the government. There is a perceived need for significant financing to improve the country's infrastructure, since there are still very deficient sectors, that act as barriers, like construction and logistics. It is precisely in this area that foreign investment could help: on improvements in the information and communication technology sectors.

To remedy such problems, in 2016 the Investment Law was approved (40/2016), also known as MIL (Myanmar Investments Law) which significantly changed the structure of investments and affected both local business and foreign investors, regardless of the size of the contributions and the nationality of the investments. The previous legislation was only applicable to investors who had previously obtained approval of their projects by the “Myanmar Investment Commission” (MIC). In this format, local investors would submit their projects for approval by the Investment Commission only when they intended to obtain tax incentives, while foreigners would do it to gain the right to invest only in previously designated sectors, to obtain tax breaks and obtain rights to lease land, a long term after this request, the MIC would analyze the claims to decide if they would really benefit the country; However, foreign and local investments were regulated by different regimes..  The new policy of delinking tax incentives from obtaining investment approval made it possible to prioritize some essential sectors, for now they must all be developed in the same way., and none of them get investment priority.


As the chapter prescribes XI do Myanmar Investment Law, “…the Government shall accord to foreign investors and their direct investments, treatment no less favorable than it accords to Myanmar citizen investors in respect of the expansion, management, operation, and the sale or other disposition of direct investments according to this Law except any way stipulated in Laws, rules and notifications;”

In this context, the main feature of the new Investment Law, is that it is applied to all investors indiscriminately, it is up to them to decide whether they wish to act in accordance with local investment laws or remain outside their structure. In addition, to facilitate, the new MIL facilitates the approval of investment proposals worth up to 5 million dollars. This allows more investors to access the non-tax benefits available within its scope, stimulating economic and industrial development through external capital.

Some analysts question whether national development should not have priority in the country's industrialization process, given the possibility that, in the current scenario, especially in the context of the new Investment Law, foreign companies already structured will find it increasingly easier to enter the market competitively, jettisoning small national companies. Even so, in the medium and long term an increase in FDI is expected “pari passu” with domestic investments up to 2021, leveraging the economic growth of 6,6% between the years 2020/21. it tends to happen, according to analysts, due to the new government investment policies and the implementation of the Myanmar Sustainable Development Plan (MSDP).

This plan is expected to be implemented between 2018 e 2030, and will seek to develop a vision – and goals - of, long-term, turn Myanmar into a prosperous country, pacified and democratic, focused on the coherence of policies and institutions needed to achieve inclusive and genuine economic transformation. For so much, in theory it will make the most of the advantages of the plans already consolidated and the policies that are currently being developed. In this way, it will give coherence to the existing strategic documents, in order to ensure that they will be implemented consistently in pursuit of national macro-priorities:

“Therefore,                          â€śthe MSDP is the integration and distillation of existing plans and priorities. Furthermore, the MSDP mediates between local developmental needs and global sustainable development agenda by aligning MSDP action plans with global SDG targets. Furthermore, and unlike previous strategies, the MSDP is designed to achieve its aims through coordinated effort involving public entities, the non-profit sector, as well as the private sector. The tireless and passionate work of our nation’s vibrant civil society, community-based and other gross roots organisations and networks, will be crucial to ensuring successful implementation.”MYANMAR SUSTAINABLE DEVELOPMENT PLAN, pg. 9

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Among the aligned cross-cutting themes are equity and social inclusion; democratic principles; and sustainability, in all its forms (considering that Myanmar is essentially vulnerable to the consequences of climate change); and peaceful conflict resolution, seeking national reconciliation, the main political problem for the central government. The actions created by MSDP will be put into practice at different times: some strategies will be developed within a few months, while others may take years. The only certainty is that even when the action plan is complete, further reforms will be needed to continue the process of economic development..

Still on the business environment in Myanmar, it is important to consider that according to the publication "Doing Business” of the World Bank, are 12 the procedures required to start a business in the country, while the average in the Far East and the Pacific is 6,8 procedures. The cost of starting a business is higher than the regional average, with average costs of 24,8% of the per capita income of the country, whereas the average in the Far East and Pacific, for example, it's from 17.8%. In contrast, Myanmar benefits from the least amount of days (14) for a married person to register their company, taking into account that the average number of days for similar registrations in the Far East and Pacific countries is 25.9 days.

Another issue affecting the Burmese economy is related to international trade. For example, the time needed to export from Myanmar,  because of bureaucracy at the borders, it's from 142 hours. This includes the preparation and submission of required documentation. – customs clearance and inspection procedures – during the process, both at the port and at the land borders, These same processes in the Far East and the Pacific, late, average, 54,7 hours.

Another related theme, the supply of electricity is also a complex issue for the country., which has one of the lowest electrification rates in Southeast Asia. Although the number of procedures and the average number of days required to install a power grid are similar to the average for Far East and Pacific countries, the low level of reliability of supply and the transparency of tariffs is alarming.: Myanmar received a grade from the World Bank 1, while the Far East and Pacific countries achieved grades of 4 a 27, and the world's biggest economies got the maximum score.. currently, according to a survey by Asian Development Bank about power consumption in 11 Myanmar regions, firewood is the main source of energy, mainly for cooking, as attested by 73% of respondents. Firewood is followed by the use of candles and torches. This energy shortage affects the population due to the scarcity and low reliability of energy supply:

      Access to modern energy service has direct bearing on poverty reduction and rural development. Universal access to electricity in Myanmar by 2030 is achievable and affordable goal and, as proven in neighboring countries such as Thailand, Vietnam, Laos and China, the goal can be achieved with sustained government’s commitment, targeted sector policies, and significant financial support from donors.” Development of A Myanmar National Electrification Plan – WORLD BANK

To heal this problem, building on the global sustainable energy for all initiative, the government, through the Ministries of Electric Energy and Livestock, Fisheries and Rural Development, and in partnership with the World Bank and the United Nations, has been preparing the National Electrification Plan (NEP) which will include a geospatial project to implement a lower cost grid to achieve universal access to electricity by 2030. It will also outline institutional reforms that will ensure alignment between funding sources and the effective implementation of the electrification program. Like this, the development of the NEP can be considered as the basis for an energy sector master plan that will discuss strategic issues related to the future of energy generation.

“NEP is envisaged to be a comprehensive action plan for developing, financing, and implementing electricity access scale-up program nationwide, with the target of achieving universal access by 2030. Its aims to align support from different stakeholders with the implementation program for achieving national access targets and syndicates financing on a timely, ongoing and programmatic basis.” Development of a Myanmar National Electrification Plan / WORLD BANK

added to this, the Asian Development Bank and the Ministry of Energy of Myanmar presented in 2015 The Myanmar Energy Master Plan, which predicts the increase in energy demand between 2014 e 2035, pursuing different supply expansion scenarios. Second this plane, is defined between 15 and 20% the share of renewable energy in the country's energy matrix, most of which will be channeled to rural areas.. The ideal matrix predicted by experts, up until 2030, it's from 57% of hydroelectric power, 30% of coal, 8% of natural gas and 5% solar and wind energy. To achieve these goals, the Ministry of Science and Technology (MOST) committed to implementing rural electrification schemes, developing renewable energy, such as wind farms and biomass, prioritizing long-term benefits, also putting sustainability and the conversation on the environment at the forefront.

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Myanmar presents several opportunities for solving the energy crisis. The four main rivers in the country: Ayeyarwaddy, Chindwin, Thanlwin and Sittaung are untapped energy resources. According to Asian Development Bank, Myanmar has significant hydroelectric potential, with more than 100,000MW of installed capacity, that is, 7,7% of Asian hydroelectric resources. This amount generates today 62% of the country's energy. However, to be pursued without the necessary coordination, these patterns would be conditioned to the drought periods that devastate Myanmar and the dependence on only one energy source, what can lead to scarcity.

It is in this context that the Myanmar government has been facing challenges for the construction of new hydroelectric plants, with questions about environmental impact, long timelines for project preparation, the unpredictability of weather conditions and insufficient financial support. parallel, Myanmar has great potential for solar resources, especially in the center of the country and in dry areas, what can be a solution to rural energy shortages, the most affected by the country's energy inconstancy, through the implementation of home mini-grid systems. The total potential for solar energy in the territory is almost 52.000 terawatt hour per year.

Due to public opposition and concerns over issues of pollution and environmental impacts, all contracts for thermoelectric plants signed by the previous military government with international and regional companies are paralyzed. Even so, three new coal-fired power plants are being planned in the Thilawa regions, Kyauktan and Thilawa Special Economic Zone, since the stipulated national coal resources are of 540 millions of tons. It is important to mention that according to the Global Climate Risk Index of 2019, which lists the countries most affected by climate change in the last 20 years, Myanmar ranks third among 184 countries analyzed by Germanwatch. After all, the country is exposed to multiple risks, like landslides, floods, cyclones, earthquakes and drought periods.

Another major challenge for Myanmar's new government is to eradicate extreme poverty in the country., creating conditions for market access, the information, to technology, the education, to health care and basic infrastructure for the rural population. As a result of these efforts, the level of poverty has fallen in recent years, one-third of the population, in 2005, for a room, in 2009, and finally 20% from the country, in 2015. Until 2015, 41% of the urban population lived in slums, and the poverty of the rural population was of 25%, against 9% of the urban population. This reveals the need to promote the urbanization of the country, although in recent years agriculture has become increasingly commercial and specialized..

According to the government of Myanmar, the issue of migration has become a significant factor in the development of rural communities and poverty reduction.. But the government “strives to develop legal, convenient, affordable and secure channels of migration from which not only migrants themselves, but also their left-behind families and communities, will benefit.”. It should be noted that a third of the country is affected by ethnic conflicts, and the population experiences a humanitarian crisis that has already taken more than 700.000 of people fleeing to Bangladesh, e 150.000 were displaced within their own country. These ethnic tensions have resulted in increased terrorist activities in the region.. According to the Global Terrorism Index, created by Institute for Economics and Peace, Myanmar ranked eighth among countries with the highest number of terrorist attacks in the Asia-Pacific region.

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As a response to these conflicts, the World Bank has reviewed its engagement in Myanmar and has shifted its social inclusion efforts to conflict-affected areas, in support of the country's political and economic transition. Aiming to achieve interethnic peace and underpin the inclusive and sustainable development of all communities in the country, the World Bank continues to provide technical and financial support, especially through high impact projects, focused on education, health, access to electricity and responses to natural disasters, in addition to the attempt to include all ethnic groups and religions in the State of Rakhine, where almost the entire Muslim community of the Rohingyas lives, as well as in other conflict-affected areas in the country..

Summarizing, when analyzing the business environment in Myanmar, it is clear that the country has developed a project conducive to economic development.  Among the challenges facing this process, the issue of internal migration remains a delicate agenda, which can affect the country's international reputation.. parallel, it is also a topic that stirs up major internal questions and puts the country's democracy at risk. These political and economic scenarios are important data to understand the scenario marked by the fragile infrastructure and the great social inequality.

However, by reviewing the actions implemented by previous governments and embracing their main points, added to structural changes and the new rules that the contemporary economic and political life of the country requires, the result will be the growth of the country. Given the above, we can expect rapid growth from Myanmar over the next few decades. For so much, long-term actions and continuous development will be necessary., based on good relations with neighboring countries, in foreign investments and in the support of the community and international institutions, such as the World Bank and the International Monetary Fund.

Myanmar is a privileged country for having as neighbors, Faster and Faster Growing Economies; in this context, the country can accompany this growth by consolidating with regional blocks, from the agreements in planning or already initiated.

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Anne Marie Gattini Nassif
Anne Marie Gattini Nassif is an International Relations student at the Escola Superior de Propaganda e Marketing / ESPM. Interested in learning other cultures, mainly by studying different languages. Is a volunteer attendant at the Immigrant Reference and Service Center (CRAI), in Sao Paulo, and Junior Analyst at the Center for Asian Studies and Business / NENA, from ESPM.