Description:
Executive Summary: "...This handbook reveals that the current institutional and regulatory environment in
Myanmar continues to limit the potential of the country?s private sector. Regulations regarding
starting and running a business in Myanmar make the process lengthy and costly, while
the lack of institutional capability of law enforcement creates legal uncertainty. Thus,
cutting the ?red tape” and building institutional capacity are crucial for enhancing the
business environment. Improving the tax system and the country?s financial sector as well
as introducing mechanisms to eradicate corruption are also indispensable to facilitate
private sector activity.
In addition, business success strongly depends not only on the regulations in place
but also on private sector competitiveness. Overcoming deficiencies in human and physical
capital, encouraging the adoption of new technologies and making business development
services widely available are key reforms to enhance the competitiveness of the private
sector.
Furthermore, considering the extent to which small and medium-sized enterprises
(SMEs) contribute to Myanmar?s economy (99.4 per cent of registered enterprises are of
this category),
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private sector development requires additional provisions for SMEs? specific
needs regarding access to finance, markets, and inputs. On the other hand, supporting
large companies through a sound corporate governance framework is also important.
In this handbook, it is also explained that if the business environment in Myanmar
was enhanced, it could accelerate investment flows in Myanmar, which in turn could
further support private sector development, particularly by rendering local firms more
competitive. For that purpose, the Government should continue to enhance the business
environment and transparent information flows on rules and regulations; guarantee secure
private ownership and intellectual property rights; eliminate dual application of investment
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laws; and accept investment dispute settlement through a competent, independent and
impartial judicial system. These reforms, coupled with investment promotion measures,
should be effective in attracting more foreign investors in years to come..."
Source/publisher:
UNESCAP
Date of Publication:
2015-02-02
Date of entry:
2015-08-06
Grouping:
- Individual Documents
Category:
Language:
English
Local URL:
Format:
pdf
Size:
2.76 MB