Sunday, April 6, 2014

Myanmar to be one of the fastest growing countries in SE Asia in 2014

Irrawaddy Times:
The ADB on Tuesday released its annual Asian Development Outlook report, estimating that Burma's gross domestic product grew by 7.5 percent in 2013-14 and predicting higher growth of 7.8 percent both this year and next. 
"Growth [in 2013] was supported by rising investment propelled by improved business confidence, commodity exports, buoyant tourism, and credit growth, complemented by the government's ambitious, structural reform program," the Bank said. It noted that, with new offshore natural gas fields now online, gas now makes up 40 percent of the value of Burma's exports, or US$3.6 billion a year.
The economy is benefiting from the recent oil and gas tenders that were issued recently and the wireless licenses that were granted last year. It would appear that electricity availability and build out of affordable housing and office space are going to be a concern for a while. However these are opportunities long term not liabilities. Still waiting for news on when the Myanmar stockmarket will be up and running. Singapore based Yoma Strategic Holding is a pure play on Myanmar but it has been in a trading range after it had its runup a couple of years ago.

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