Asia Perspective to participate on seminar regarding Myanmar and Frontier Asia Economic Development
On March 25th, Mr. Andreas Sigurdsson, Partner and MD of Asia Perspective’s Yangon office, will hold a keynote presentation on the topic of “Myanmar and Frontier Asia Economic Development” at an event hosted by CCIC (Camera di Commercio Italiana in China) and SPWG (Service Providers Working Group) in Shanghai.
According to the World Bank, Myanmar is facing an economic boom, and the country is expected to grow steadily in the short to medium term, with a projected 6.8 percent growth in the short to medium term, with a projected 6.8 percent growth in the 2013-2014 year, applauding the Southeast Asian nation’s progress in making political and economic reforms. Foreign investment contributed in large part to the strong growth and optimistic outlook for the economy. FDI rose to 2.7 billion dollar in 2012-2013, up from the 1.9 billion dollar in 2011-2012, with energy, garment, information technology, and food and beverages sectors receiving most of that investment. The government passed a new foreign investment law that is expected to continually help improve the foreign investment environment.
To maintain growth, Myanmar will need to continue making domestic reforms.