Myanmar lauded for easing business environment

Myanmar Lauded For Easing Business Environment
Custom House along Strand Road in Yangon, a well-preserved British colonial building still fulfilling its original function © Arno Maierbrugger

Myanmar has been listed among the top 20 improvers in the newly released Ease of Doing Business 2020 report by the World Bank as a result of reforms to the country’s business landscape.

According to the report, several initiatives in particular stood out. The foremost is Yangon’s strengthening of construction quality control by imposing stricter qualification requirements for architects and engineers and investments in its water and sanitation infrastructure.

The country also launched an online company registration platform, thereby merging several procedures and reducing the need for in-person interaction.

Myanmar also made property registration faster by streamlining deed registration and appraisal. On the legal front, Myanmar’s courts started publishing performance measurement reports.

Overall, among the 20 improvers in the report are India, China, Bangladesh, Pakistan and Kenya, to quote a few, but no other country in Southeast Asia.

However, the World Bank said that the top 20 improvers list does not fully reflect an economy’s attractiveness to business and is purely based on the improvements across ten regulatory areas.

This is why Myanmar showed no improvement in its overall ranking in the index, retaining spot 171 it held last year and remaining the least favourable ASEAN member in which to conduct business.



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Custom House along Strand Road in Yangon, a well-preserved British colonial building still fulfilling its original function © Arno Maierbrugger Myanmar has been listed among the top 20 improvers in the newly released Ease of Doing Business 2020 report by the World Bank as a result of reforms to the country’s business landscape. According to the report, several initiatives in particular stood out. The foremost is Yangon’s strengthening of construction quality control by imposing stricter qualification requirements for architects and engineers and investments in its water and sanitation infrastructure. The country also launched an online company registration platform, thereby merging...

Myanmar Lauded For Easing Business Environment
Custom House along Strand Road in Yangon, a well-preserved British colonial building still fulfilling its original function © Arno Maierbrugger

Myanmar has been listed among the top 20 improvers in the newly released Ease of Doing Business 2020 report by the World Bank as a result of reforms to the country’s business landscape.

According to the report, several initiatives in particular stood out. The foremost is Yangon’s strengthening of construction quality control by imposing stricter qualification requirements for architects and engineers and investments in its water and sanitation infrastructure.

The country also launched an online company registration platform, thereby merging several procedures and reducing the need for in-person interaction.

Myanmar also made property registration faster by streamlining deed registration and appraisal. On the legal front, Myanmar’s courts started publishing performance measurement reports.

Overall, among the 20 improvers in the report are India, China, Bangladesh, Pakistan and Kenya, to quote a few, but no other country in Southeast Asia.

However, the World Bank said that the top 20 improvers list does not fully reflect an economy’s attractiveness to business and is purely based on the improvements across ten regulatory areas.

This is why Myanmar showed no improvement in its overall ranking in the index, retaining spot 171 it held last year and remaining the least favourable ASEAN member in which to conduct business.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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