Expanding into Myanmar

Why is it a good move to enter into Myanmar now?

Asia's crossroad


Myanmar, strategically located at the crossroad of India, China, and Southeast Asia, enables foreign investors to gain access to a huge combined market size. Furthermore, Myanmar is located along the Bay of Bengal and the Andaman Sea, allowing easy access to ports.




Government initiatives


Reforms in Myanmar's policies has resulted in better tax incentives for foreign businesses. A series of policies such as (1) the New Companies Law, (2) Special economic zones, and (3) Myanmar investment promotion plan have also been implemented to attract more foreign investors into the Myanmar market.




Rapid expansion in economy


Myanmar is one of the fastest growing countries economically. Its GDP has increased significantly from US$ 8.9 billion in 2000 to US$ 69 billion in 2017. Furthermore, Myanmar targets to hit USD 220 billion in FDI over the next 20 years, as it focuses on infrastructure development and modernization of policies.




Lower business operation costs


Doing business in Myanmar is significantly cheaper than in Singapore. Factors of production such as the cost of office spaces, electricity, wages and capital are all significantly lower. In ASEAN, Myanmar records one of the lowest minimum wage of approximately USD3.60 per day (2018).





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 

  • Regulatory environment

  • Economic regions in Myanmar

  • Business opportunities in Myanmar by sectors

  • Challenges faced in 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.

 

 

 

Fact Sheet:

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)

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