YANGON, October 31, 2014—A new
World Bank Group survey in Myanmar finds that reforms of the country’s
investment climate are urgent across a number of areas, especially access
to finance, land, electricity and skilled workers, which were identified
as the top constraints. Addressing these key constraints is critical to
ensuring a fair and transparent business environment in which all private
enterprises can grow and create jobs.
The Enterprise Survey was carried out in the Spring of 2014, covering Yangon,
Mandalay, Monywa, Taunggyi, and Bago. This survey of private sector firms
in Myanmar included interviews from more than a thousand foreign and domestic
non-agricultural businesses, in manufacturing, retail and other services.
Some 23 percent of firms identified access to finance as the top barrier
to their operations – just 30 percent of the surveyed firms have a bank
account, by far the lowest figure in the region.
More than a fifth of those surveyed indicated access to land as the main
problem, while 17 percent and 9 percent cited access to electricity and
access to skilled workers as their primary constraints, respectively. The
World Bank Group has conducted similar surveys in 130 countries with more
than 130,000 firms across the globe.
“The findings from the survey offer not only a good snapshot of Myanmar’s
current situation, but also allow comparison across countries, in order
to assess the business environment and barriers facing firms doing business
in Myanmar,” said Abdoulaye Seck, World Bank Country Manager in Myanmar.
“The survey results and analysis will help inform government policy to
create a level playing field that helps promote investment, productivity,
growth and jobs.”
The survey in Myanmar is supported by
the United Kingdom’s Department for International Development, and has
been carried out in close collaboration with the Ministry of National Planning
and Economic Development.
The Enterprise Survey data and Doing Business 2015 report will inform recommendations
for reforms to improve the investment climate. A detailed Investment Climate
Assessment will be published by the World Bank Group in early 2015.
The newly launched Doing Business 2015 finds that Myanmar made trading
across borders easier by reducing the number of documents required for
exports and imports. Myanmar is among 15 out of the 25 economies in East
Asia and the Pacific that implemented at least one regulatory reform to
ease business during the fiscal year that ended in June 2014.
About The World Bank Group
The World Bank group is one of the world’s largest sources of funding
and knowledge for developing countries. It comprises five closely associated
institutions: the International Bank for Reconstruction and Development
(IBRD) and the International Development Association (IDA), which together
form the World Bank; the International Finance Corporation (IFC); the Multilateral
Investment Guarantee Agency (MIGA); and the International Centre for Settlement
of Investment Disputes (ICSID). Each institution plays a distinct role
in the mission to fight poverty and improve living standards for people
in the developing world. For more information, please visit www.worldbank.org,
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