HLPF | RDA
Republic of the Union of Myanmar
A government led by the National League for Democracy (NLD) took office in April 2016 in Myanmar, the first civilian government in decades. The new government has launched new economic policies and accelerated efforts for the peace process under the leadership of the state counselor, Daw Aung San Suu Kyi.
On August 31, 2016, the Panglong 21st Century peace conference gathered government representatives, military officials, armed ethnic groups and other stakeholders in the capital Nay Pyi Taw. There are now opportunities to further deepen reforms, create shared prosperity for all, and for the country to resume its place as one of the most dynamic economies in Asia.
As the largest country in mainland Southeast Asia, Myanmar has one of the lowest population densities in the region, with fertile lands, significant potential to increase its production, yields and profits in agriculture, and a rich endowment of natural resources. Its geographic location at the intersection of China and India, two of the world's most dynamic economies, makes it well positioned to resume its traditional role as a regional trading hub and a key supplier of minerals, natural gas and agricultural produce.
Economic growth in Myanmar eased to 7 percent in 2015/16 due to a supply shock from heavy flooding, a slowdown in new investment flows and a more challenging external environment. The heavy floods in July 2015 affected some of the poorest and most vulnerable people in the country and caused inflationary pressures. Medium-term growth is currently projected to average 8.2 percent per year.
Poverty in Myanmar is concentrated in rural areas, where poor people rely on agricultural and casual employment for their livelihoods. Many live near the poverty line and are sensitive to economy-wide shocks. Since the majority of the poor are engaged in small scale agriculture, they may be shielded from recent inflationary pressures but the urban poor are likely to be highly affected by recent bouts of food price inflation.
Among ASEAN countries, Myanmar has the lowest life expectancy and the second-highest rate of infant and child mortality. Just one-third of the population has access to the electricity grid and road density remains low at 219.8 kilometers per 1,000 square kilometers of land area. With the liberalization of the telecommunications sector in 2013, mobile and internet penetration has increased significantly from less than 20% and 10% in 2014, to 60% and 25% respectively. Establishing a credible and consistent policy and regulatory environment in the telecommunications sector can help ensure steady private investments and growth.
Source: World Bank Group
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Radanar Ayar Rural Development Association is registered charity under the Government of Republic of Union of Myanmar with Reg: 2031 and its register office is No.40, Bogyoke Aung Sann Road, Ward-5, Bogalay 10231 Myanmar.
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