Myanmar’s Economic Reform and Development: Prospects and Challenges

Implementing economic reform is an imperative for Myanmar. Since the new civilian government came to power in 2011, it has undertaken a series of reform measures with varying degrees of success. Whereas a recent Asian Development Bank report noted that Myanmar could become a new economic star on account of its rich resource wealth, there continue to be many challenges to the reform process, not least poor infrastructure, insufficient capital, a lack of qualified personnel, and an unattractive regulatory environment for FDI.