Business Etiquette Greeting – Myanmar has a culture of hospitality. The traditional greeting in Myanmar is a bow whilst placing both hands on your stomach. Exchanging gifts and favors is a part of the first rituals of getting to know each other. If you’re coming from your home country, a local product is always a good… Continue reading Business Etiquette
Digital Economy In today’s world going digital is the rule, and for every country it is imperative to understand its importance in order to compete at a global level. Myanmar, which is one of the fastest growing economies, needs to do well in order to foster the economic development going on in the country. Internet… Continue reading Digital Economy
Foreign Direct Investment FDI growth over time– Foreign Direct Investment in Myanmar is 3.8 billion by the end of 2021, according to a statement by their government. FDI by sector –As per the Directorate of Investment & Company Administration, in 2017 Manufacturing and Real Estate were the two major investor attractions, contributing about 53% of… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT) – The prevailing standard CIT rate in Myanmar is 25%. Following is a comparative overview of seven major ASEAN economies. On comparison we see that the corporate income tax rate the second highest among these seven countries, and is also above the average tax rates. These comparisons show that Myanmar isn’t… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking –In the last few years the country has improved its rankings from 177th in 2014 to 165th in 2019. For the year 2019, the country has made noteworthy progress in several key areas and is amongst the top 20 reformers for the year. It… Continue reading Ease of Doing Business
Government Structure and Society Government StructureMyanmar has a parliamentary republic system of governance with substantial political power with the military, also known as Tatmadaw. There are two legislative chambers- the 440 seat Pyithu Hluttaw (People’s Assembly, the lower house) and the 224 seat Amyotha Hluttaw (Nationalities Assembly, the upper house). The National League for Democracy… Continue reading Government & Society
Demographic Advantage Population-Over the last 5 years, the population (54,409,800 2021) of Myanmar has continuously grown at rate of more or less 0.73% and has retained the spot of the 26th most populous country in the world. Projections show that there wouldn’t be much of a difference in this rate. However, the problem lies in… Continue reading Demographic Advantage
Historical Background Surrounded on three sides by mountains and on one side by the sea, Myanmar has been the hub of cultural exchange and trade. The political landscape always played an important role in the culture as the country was ruled by monarchies, invaded by the British and the Japanese, before eventually becoming free. Right… Continue reading Historical Background
COUNTRY HIGHLIGHTS Myanmar > Country Highlights COUNTRY HIGHLIGHTS FOR MYANMAR Map of Myanmar Geography The ruling military changed the name from Burma to Myanmar in 1989. The two words mean the same thing but Myanmar is the more formal version Total Land Area676,575 sq km/ 261,227 sq mi Main Geographical FeaturesIt is bounded by Laos… Continue reading Country Highlights
