
Ministry of Investment and Foreign Economic Relations (MIFER),The Republic of the Union of Myanmar
Ministry of Investment and Foreign Economic Relations (MIFER),The Republic of the Union of Myanmar
The government of the Republic of the Union of Myanmar warmly welcomes responsible investors to seek and seize business opportunities in Myanmar, to support sustainable economic growth.
Myanmar is an agro-based country with fertile land and abundant water resources. Given the landscape profile, topographic dimensions and different climatic areas of Myanmar – not only perennial plants, but also crops such as rice, pulses and beans, fruits and vegetables can be easily grown. The government is aiming to transform Myanmar’s mostly traditional agricultural economy into a productive and sustainable agro-economy. To achieve this goal, increases in agricultural productivity and quality are required.
Key Opportunities in Agriculture
Given Myanmar’s 2,832 kilometers of coastline along the Bay of Bengal and in the Andaman Sea, fisheries represent an important opportunity for communities and businesses in the coastal areas of Myanmar (particularly in Rakhine State). Fishing grounds in Myanmar’s waters are relatively less exploited than elsewhere. The aquaculture sector is operating almost 50,000 hectares of freshwater ponds. Opportunities in the sector exist inshore (e.g. fish ponds, inland river systems and aquaculture), offshore, and in deep sea locations.
Key Opportunities in Aquaculture and Fisheries
Myanmar is experiencing a gradual migration process of people moving from rural to urban areas. This is driven by a diverse set of educational, professional and income opportunities. Along with the challenges of urbanisation, there are also opportunities for local and foreign businesses to help develop better, smarter and more liveable cities in the country. Changing demand patterns of the rapidly growing middle class opens up new opportunities for the distribution of a larger spectrum of consumer goods, as well as an emergence of new service industries (e.g. restaurants, entertainment, education).
Key Opportunities in Urbanisation
The tourism and hospitality sector in Myanmar has been rapidly evolving following the political and economic opening of the country. At the moment, foreign tourists (on their first short-term visit to Myanmar) mostly visit Yangon, Bagan, Inle Lake, Nyaung Shwe and Mandalay. However, Myanmar offers many additional unexplored treasures of natural beauty – from Kawthaung in the tropical South-East, to Putao in the Himalaya.
Key Opportunities in Tourism and Hospitality
There are many opportunities for investors to help Myanmar reach the objective of full national electrification by 2030. In the medium run, Myanmar may even be able to develop into a net exporter of electricity to neighbouring countries.
Key Opportunities in Power
Myanmar possesses natural resources in abundance so foreign investments may be invited based on exploration and extraction of natural resources. Currently, exploration and production of offshore and onshore oil and gas blocks are in tender process according to Ministry of Electricity and Energy. There may be more foreign investments in oil and gas sector after tender process.
Key Opportunities in Oil and Gas industry
The manufacturing sector opens up opportunities due to the significant domestic market of Myanmar, direct access to the strategic markets of Southeast Asia (ASEAN Economic Community) as well as to China and India. Myanmar also has comparatively low labor costs, rich natural resource endowments, and a diverse agricultural base for further value-added production to help encourage growth of the manufacturing sector.
Key Opportunities in Manufacturing
The development of better infrastructure is an important requirement to be able to physically carry industrial and agricultural growth in Myanmar. The Government prioritises infrastructural and economic development along certain major trade paths through the country, in order to facilitate the integration of Myanmar into production networks of the Greater Mekong Subregion and Myanmar’s Western neighbours. The Government of Myanmar has experience in conducting infrastructural projects under Build-Operate-Transfer (BOT) and other PPP agreements (e.g. in the railway and highway sector), and welcomes investors for infrastructural improvement projects.
Key Opportunities in Infrastructure
Myanmar possesses natural resources in abundance, including the following minerals: Alum, Amber, Antimony, Barite, Bauxite, Beryl, Bismuth, Cadmium, Chromite, Cinnebar, Coal, Cobalt, Columbite, Copper, Corundum, Gemstones, Gold, Graphite, Gypsum, Iridium, Iron Ore, Jadeite, Kaolin, Lead, Manganese, Mica, Molybdenum, Natural Gas, Nickel, Ochre, Oil, Oil Shale, Phosphates, Platinum, Salt, Saltpetre, Silver, Soda, Steatite, Sulphates, Sulphides, Sulphur, Tin, Titanium, Tungsten and Zinc. Investors may support the responsible exploration and extraction of natural resources according to international best practices. Myanmar is a candidate of the Extractive Industries Transparency Initiative.
Key Opportunities in Mining
Myanmar is one of the leading producers of teak and hardwood (particularly Pyinkadoe and Padauk). In order to prevent unsustainable forestry practices and large-scale log harvesting, the Government of Myanmar strictly and effectively abandoned the export of unprocessed teak and hardwood in April 2014. This structural change offers opportunities to foreign and local investors to support the emergence of value-added and sustainable forestry (e.g. by establishing new wood-processing industries in Myanmar). Furthermore, stronger engagement of the private sector to help restore forests in an environmentally and economically sustainable way is desired.
Key Opportunities in Forestry-Based Industries