26 Nov World Bank survey to assess Myanmar’s investment climate

Written by Mizzima News Published in Investment Read 5988 times

The World Bank has begun a survey of more than 1300 companies to help identify barriers to doing business in Myanmar, it announced in Yangon on November 25.

One of the objectives of the survey is to determine the main obstacles to growth for small businesses, the bank said in a statement.

Other objectives of the survey include identifying the main barriers to exports and determining how productivity and labor costs in Myanmar compare to other countries, it said.

The survey of the business environment will involve interviews with almost 1,400 small and large manufacturing and services companies, both domestic and foreign, the statement said.

Survey results and analysis will help inform government policies on promoting investment, productivity and economic growth, it said.

The survey is being conducted as part of the bank’s investment climate assessment with funding from the UK Department of International Development (UK Aid).

The bank said it has conducted similar surveys in more than 120 countries, including in East and South Asia.

“The result is a set of comparable indicators at country level on business performance and environment, including access to finance, access to electricity, roads and water and business regulations,” it said.

“The recent Doing Business 2014 report provided basic benchmarking of regulations in Myanmar with those in other countries” and the enterprise survey will provide more detailed information, the statement said.

“Myanmar is implementing a broad range of reforms to stimulate investment and growth,” said MrKanthan  Shankar, the World Bank’s country manager in Myanmar.

“Hearing from businesses in Myanmar on what they see as the main issues and comparing constraints they face with those in other countries can help to focus on policies with the most impact,” Mr Shankar said.

“As a first survey, this will also set a benchmark and help in measuring progress as the Myanmar businesses environment improves,” he said.

The bank has contracted MMRD, a leading Myanmar research company to conduct the survey, which began this month and covers Yangon, Mandalay, Monywa, Taunggyi and Bago.

Preliminary results of the survey are expected next June, the statement said.

Last modified on Tuesday, 26 November 2013 17:48