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The Myanmar Insider (MI) is the first English-language financial newspaper in Myanmar. Started in November 2013, it offers its readership relevant and analytic content from the areas of companies, property, management, medias and lifestyles. It is unevenly distributed among other Myanmar literature and is available in regional airports busi-ness lunges, ministries, embassies and NGOs.
Myanmar: Chances and challanges for companies
Myanmar's National League for Democracy ("NLD") landslide in 2015 led to more than 50 years of immediate armed conflict. Following the election of a crucial parliamentary majoritarian in the House of Commons of Myanmar, the parties will now be the next state. These changes present new chances and challanges for businesses that want to make investments in what is for many the last Asian border.
While victory is a turning point for the NLD and its renowned foundress Aung San Suu Kyi, it is important for the investor to be conscious that the army will continue to be a power in power. From 2011, the army launched a range of macroeconomic reform policies that were crucial to the country's continued existence and were driven by ex-President Thein Sein.
Once Myanmar was envied by Southeast Asia. However, after the 1962 army putsch, the land shut itself off from large parts of the globe and became a paraiah and a lag. Today, only about 25 per cent of the local populace have unrestricted and unrestricted power supply. NLD wants to remedy this and pursue the process of reform while extending citizens' freedoms.
The NLD leadership will have nominated the heads of all major government departments, financial, trade and national planning, by March 2016. There will be many ministerial and other civil servants from the parties; everyone has a backdrop in politics and society. But together they have little combined management or support for domestic or foreign companies.
However, it also offers an opportunity for all those interested to get in touch with the country's guides. We have every cause to believe that the political group will be as sensitive to outside counsel as the former state. Myanmar, for example, Thein consulted with experts from large petroleum corporations to identify the best strategies and approach for the country's power industry.
Building fruitful relations with Myanmar's leaders will be critical to the country's business performance. State organisations such as Myanmar Oil and Gaz Enterprises will be an important part of the business community for some while. Furthermore, large agglomerates in major industries such as financial and coal production are under the control of armies with strategic and state links.
This elite will continue to be part of the countryside and, in sectors that are still under protection, it will be necessary for international businesses to know the major actors and to cooperate with them. Burma provides enormous opportunities for investment to promote cooperation with the Burmese authorities and economic power. Myanmar, with around 52 million inhabitants, will be an important store for many goods and more.
Therefore, the key to our future progress will be to understand and deal with those who take the helm in March.