Since the transition to a civilian government in 2011, Myanmar has begun an economic overhaul aimed at attracting foreign investment and reintegrating into the global economy. In 2012, it re-wrote its Foreign Investment Law to open up more sectors to larger degrees of participation by foreign investors. The market responded strongly to these reforms, with pledged FDI growing from $4.1 billion in 2013 to a peak of $8.1 billion in 2014.
Myanmar’s abundant natural resources, young labor force, and proximity to Asia’s dynamic economies have attracted foreign investment in the energy sector, garment industry, information technology, and food and beverages. Since 2011, Myanmar has made significant reforms to improve its legal and regulatory framework to create an attractive business climate, especially pertaining to starting a business.
In 2011, Myanmar introduced an SEZ program, including an SEZ Law, the Dawei SEZ law (drafted with Locus assistance), and an SEZ regulatory authority. The Dawei SEZ, Thilawa SEZ, and Kyuakpyu SEZ are all under development