Myanmar is looking to continue its rapid development as companies eye possibilities for growth there.
“In fiscal year (FY) 2014 and 2015, Myanmar averaged 7.8% gross domestic product (GDP) growth – which is significant compared to the 3% growth rate for most economies.”
However, growth in Myanmar is not without significant challenges including:
- Shortfalls in electricity “attributable to theft, poor infrastructure, and lack of investment”
- Integrating “new technological and industrial capabilities into its economy”
James Wendelken, Principal Capformance and Senior Associate at EKT Interactive, was noted in the below article that,
“Transferring technological capabilities and industry knowledge into foreign countries is challenging because it is very much a constructive process that must be done among the people. It takes time for employees to improve how they utilize resources such as industry standards, technical decision tables, or manufacturing tools, and it takes time to tie knowledge to departmental decision making as departments have various specialized functions and employees contending with change.”
Click the following link for an in-depth article on challenges and opportunities in Myanmar by Jenny Lin, founder of Asia Taktik, in Asia Taktik Perspective. This article spotlights issues companies and industries face globally.