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  • » 08/21/2012, 00.00

    MYANMAR

    World Bank: Strategies for the development of Myanmar



    The 18-month program aims to support the reform process initiated by the government and ensure stability. The three pillars are: the transformation of institutions, confidence and future investments. Peace with ethnic minorities in border areas essential. The cooperation of the Asian Development Bank and the International Monetary Fund.

    Yangon (AsiaNews) - A strategy for the short to medium term to support the process of reform of the Burmese government and promote economic growth, opening the doors to new foreign investments. This is contained in a study prepared by the World Bank (WB, click here to read the entire document), in response to calls advanced in recent weeks by representatives of civil society and leaders of ethnic groups, on future prospects for international development and investment in Myanmar. It has three primary objectives: to support the process of transformation of institutions, lay the foundation for greater confidence and pave the way for future investments, relying on the cooperation of other institutions such as the Asian Development Bank (ADB) and the International Monetary Fund (IMF).

    The World Bank plan covers an 18 month period and examines, first, the three major changes initiated by the new civilian government of Burma: the transition from a military regime to a democratic system, the transition from a centralized to open market, an end to decades of wars against minorities in border areas. It will promote these three major reforms, also looking to the objectives set by the Naypyidaw executive, including agricultural development, a balanced and inclusive growth, improving quality standards.

    The first of the big three "pillars" for development in Myanmar regards the "transformation of the institutions", which will lead to the improvement of government, the creation of jobs, development of the private sector with greater public transparency .

    Secondly, building an atmosphere of "trust" around the country, so the path of reforms can help strengthen economic and social development. Thus peace must be brought to areas still subject to conflict and measures put in place to support the population, giving more and more power to civil society and its representatives.

    Finally, the "preparation of a future path" with particular attention on the census to be carried out by 2015 and the preparation of a serious investigation on household spending.

    Finally, the experts of the World Bank recall the risks associated with the project of reform and that can slow down - or stop - the growth of the country. Among these is the "fragility" of the system, the "resumption of conflict," the "instability" of the banking system, the risk that expectations are "frustrated" and "non-optimization" of reforms, limited to the scope of the social context in relation to government expectations.

    The flow of foreign investment and the objectives of the major international institutions concern Burmese exiles, however, for years engaged in the struggle for democracy and respect for human rights in Myanmar. In a recent interview with AsiaNews Aye Chan Naing, editor of the dissident website Democratic Voice of Burma (DVB), said that "no one can stop the flow of investment," but he hopes that the entry of Western companies can bring "a greater level in terms of workers' rights." Previously Tin Swe, a representative of the National League for Democracy (NLD) in India, said that material wealth "is not the only aspiration" because what really matters for Myanmar is "the prosperity of the whole population and a life lived with full dignity. "

     

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    See also

    09/10/2014 MYANMAR
    Financial world lauds Burmese economic boom. Silence on human rights
    2014-15 forecasts for Myanmar put growth at 8.5%, higher than all the countries in East Asia, including China. For the Asian Bank, the data will peak at 9.5% by 2030. Inflation must be kept under control, essential to promote infrastructure. But behind the facade of optimism there is a situation of violations of freedom, abuse and exploitation.

    10/05/2013 MYANMAR
    Yangon, by 2040 a "megacity" of 10 million inhabitants
    Project outlined by planners, officials and entrepreneurs gathered at the 2013 Urban Development Conference. From decadent reality to symbol of Burmese development, while maintaining the historic areas. However, lack of foreign investment and increasing conflicts over land.

    19/09/2012 MYANMAR
    Energy, a key sector for economic growth in Burma
    Foreign investments in capital and know-how fundamental. In 2012 record in foreign investment in the country, carried along by oil giants. By year's end the government will auction off areas rich in oil and natural gas. Indian expert: "Myanmar is largely underestimated."

    09/03/2013 MYANMAR
    Naypyidaw: oil and gas auction to attract foreign investment
    In April, more than 20 production blocks off the coast will be sold to the highest bidder. The Burmese government intends to attract capital from abroad, but also must deal with their own needs. With the old military contracts, about 80% of the production ended up abroad. Aung San Suu Kyi: economic reforms in tandem with the confidence of investors.

    07/12/2012 INDIA
    India: Government opens up the retail market to direct foreign investment
    The upper house (Raja Sabha) has approved the historic economic reform, with a majority of 123 votes against 109. Support of the 'minor' parties essential. Hindu nationalist party defeated. The opening to foreign capital should restart the country's growth.



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