Myanmar’s growth target for the country’s economy this financial year has been set at 7 per cent according to the National Plan legislation.
This boosts U Kyaw Win’s earlier prediction. The Minister for the Ministry of Planning and Finance has previously said that Myanmar’s economy will take off within the financial year of 2017-18 ‘like a plane from a runway’. Although these remarks came in for criticism from some in the business sector, there seems to be some reasons to be optimistic.
Myanmar’s main city, Yangon, has the framework to be a sustainable city, but there are three areas that need to be developed.
The director of a Canadian urban planning firm, Robert Marshall, has said that in order for Yangon to develop its sustainability, the railways need to be redeveloped, water bus transport improved and pedestrian walkways installed through the business district areas.
At the recent Communities and Tourism Conference in Nay Pyi Taw, representatives from six community tourism initiatives shared their experiences.
The main findings from the conference are that projects struggle to market their services and products, and it’s having a negative effect on community tourism.
There is a growing army of young entrepreneurs using smartphones and FinTech to provide services to tackle Myanmar’s issues. These issues range from high mortality rates to heavy traffic, and lots of things in between.
In September 2016, Htun Khaing Lynn (Zack) started up an online truck-pooling system called Kargo. The service connects businesses and individuals who need to move stuff around the congested streets of Yangon.
It may sound unlikely, and like something from the future, but for farmers in Myanmar, new technology is changing their lives.
While 3D printers have become more common across the world, it’s not the first piece of equipment you might expect to find in the fields that surround Yangon. Amid the mud and rural landscape, it seems that 3D printing technology is helping struggling farmers turn their business around.
Myanmar is in the process of developing, updating and improving its transport infrastructure. At a recent conference organised by the British Chamber of Commerce Myanmar and Baker McKenzie, the international law firm, various options were discussed.
The conference, called “Myanmar: Moving Ahead Perspectives on Developing Transportation Infrastructure”, was held in Yangon on 26 May with the aim of discussing the challenges facing Myanmar’s transport sector.
At the conference, experts advised that Myanmar adopt a PPP (public-private partnership) model in order to expedite the development.