Expanding into Myanmar
Ever since Myanmar's political reform in 2008, Myanmar has been experiencing robust and exponential economic growth.
Myanmar is one of the world’s fastest growing economy, with an annual GDP growth averaging at 8.73% from 1994 until 2017. With its large labour pool, abundant natural resources and low cost of living, setting up presence in the Myanmar market can be a strategic move for businesses who are looking into maximizing profit margins.
As a fast emerging market, Myanmar has gone through various political and economic reforms to improve the business infrastructure in the country. The government has also been ramping up its effort to increase FDI inflow in a move to boost its economic growth. This includes implementing new policies and providing greater tax incentives for foreign businesses.
For a comprehensive guide on Myanmar's economic outlook, download our complimentary Market Expansion into Myanmar Guide.
Population size: 53.58 million (2017)
Geographical Size: 676,578km sq
GDP per annum: USD69.32 billion (2017)
GDP (real growth rate): 6.8% in 2017
GDP per capita: USD1,298.88 (2017)
Exchange rate: 1 SGD = 1112.49 MMK (2019)
Sectors with the highest GDP(2017 est):
Agriculture(24.8%), Industrial(35.4%) & Services(39.9%)
Singapore exports to Myanmar: USD2.93 Billion (2017)
Singapore imports from Myanmar: USD735 Million (2017)
Be the first to capture growth opportunity in Myanmar
Learn more on expanding your business into Myanmar through our downloadable guide. A snippet of the report is attached on the right.
The topics covered are:
Key facts on Myanmar
Opportunities in key cities
Business entities and mode of entries
Business & personal taxation
Myanmar government initiatives
Economic regions in Myanmar
Business opportunities in Myanmar by sectors
Challenges faced in Myanmar