Myanmar

Location

Basic Information

Basic information
Myanmar, before know as Burma
Resource rich country
Closed and isolated country
Relatively poor country

Political system
Military ruled since 1962
Assembly consist 440 representatives , 110 appointed
by military
House of nationalist 224 representatives, 56 appointed
by military
Multiparty elections 2010
10 legal parties
Still control of military
First free elections hold 08.11.2015 Sunday. Results
come out 10.11.2015

Socio cultural context

There is 11 spoken languages
Myanmar is name of Union of nations
Language, Burma, English, Hindi
Culture is deeply rooted in Buddhism
Myanmar is traditional society with high role of family,
Family is central institution on Mynamar
No family name
Respectful
Business happened in personal basis and level

Legal system
Rooted in British law
Based in common and civil law
Juridical system is not independent
Social and traditional practices exist
Intellectual property rights are not guaranteed
Piracy rampant of corruption
IT IS NOT CLEAR IF THE NEW CONSTITUTION WILL RESULT FOR
MAJOR CHANGES,
New constitution allowed to workers to organize BUT prohibits
collective bargaining and strikes

FDI
Myanmar's foreign trade, which is relatively dynamic, is
generally under the control of the state, although the
current reforms are aiming to liberalise the market.
International trade represents less than 30% of the
country's GDP (average 2009-2011). Customs duties
have been reduced and there are few non-tariff trade
barriers, with the exception of government controls
(limits in imports).
Import licenses have been partially abolished and taxes
on exports decreased. In 2013, the government
announced that the production of hydrocarbons would
be, in priority, used by the domestic market.

FDI Continue
The partial lifting, in 2012, of the sanctions imposed by
the United States and the European Union profited
trade.
The reorientation of 98% of its trade in Asia (50% to
China and Thailand) and the strong effect of crossborder trade (over USD 2 billion) are also enabling the
country to remain dynamic in terms of foreign trade.
In spite of the progress made in exports, the country
has a negative trade balance due to a substantial
amount of imports related to its investment projects and
sustained consumption.

Continue
The country's main trade partners are the ASEAN
members (Association of South East Asian Nation),
China and India.
The country imports textiles, petro-products, fertilisers,
plastics, machinery, transport equipment, cement,
construction material, crude oil and foodstuff from
China, Thailand, Singapore, South Korea, Malaysia and
Indonesia.
The main export products are natural gas, timber,
vegetables, fish, rice, clothes and precious stones (jade)
to Thailand, India, China and Japan

FDI
figures released this week indicate the oil and gas
sector attracted $3.2 billion in FDI, the transport and
telecommunication sector saw investments rise to $1.6
billion, closely followed by manufacturing with $1.5
billion. Real estate and hotels and tourism were the
fourth and fifth sectors receiving most FDI, with $780
million and $357 million, respectively.
In the 2013-2014 fiscal year, which ends on March 31,
Burma attracted about $3.5 billion in FDI, half of which
flowed into its labor-intensive manufacturing sector.
Now days reach totally in 8 billion US$