Friday, March 10, 2017

Myanmar; the next Vietnam?


Myanmar could be the next Vietnam or Thailand, with the economy having the potential of growing as much as 10 percent, a senior British diplomat said.

The Southeast Asian nation, which is opening its economy to investors after decades of military rule, has to overcome challenges including a shortage of power supply, lack of policy clarity and high cost of doing business, Andrew Patrick, the U.K.’s Ambassador to Myanmar, said on Thursday at a Bloomberg conference in Yangon.

“Growth takes time,” Patrick said. “The main thing is you’ve got to go at the fastest pace you can.” He added that “6 percent to 8 percent, even 10 percent growth going forward is perfectly realizable.”

As I have said before there are lots of issues in Myanmar but I am confident that 10 years from the the GDP of the country will be quite a bit larger than it is now. That will be a boon for my shares in Yoma Strategic Holdings.

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