Saturday, March 12, 2016
Myanmar economy ready to take off
Investors see potential in the country of about 56 million people. Myanmar has a capitalist culture-it developed a sophisticated black market during the junta's rule-and natural resources. The country may end up being among the fastest-growing in the world this year: The International Monetary Fund forecasts an 8.4 percent increase in real gross domestic product in 2016. Meanwhile, the Central Bank of Myanmar is racing to put into place the financial infrastructure needed to cope with an expected influx of foreign investment and trade.
As the country emerges from economic isolation, it will need $80 billion of power, transport, and technology projects through 2030 to modernize its economy, the Asian Development Bank estimates. Financing might be helped along by a credit rating. The government appointed Citigroup and Standard Chartered last year as its sovereign credit rating advisers, but Myanmar still has no rating.
I have been a big fan of Myanmar for several years. I am investing in Myanmar through Yoma Strategic Holdings. Yoma has interests in real estate, tourism, restaurants, agriculture, vehicle importation, etc...As the economy in Myanmar continues to expand Yoma should see increased revenue and earnings.