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The economy of Myanmar is the seventh largest in Southeast Asia. [6] After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. [7]
The economic liberalization of Myanmar refers to the policy of liberalization orienting Myanma laws toward an open market economy. This process was initiated following the coup d’état of the Burmese junta in 1988 in order to transform the underperforming Burmese economy .
During the 2018 ASEAN summit, State Counsellor Aung San Suu Kyi called on businesses to invest in Myanmar. She delivered a keynote speech, inviting foreign entities to invest in the country’s priority sectors (including agriculture, food processing, fisheries, export promotion, import substitution, energy, logistics, education, healthcare and construction), saying that investing in Myanmar ...
In December, the World Bank had projected Myanmar's economy would grow by around 2% during the current fiscal year, after estimated GDP growth of 1% in the year that ended in March 2024. "The ...
Myanmar has been locked in conflict since the military seized power in a coup in 2021 that sparked nationwide chaos and abruptly ended a decade of tentative democracy and economic reform. The new ...
The military expropriated private businesses and followed an economic policy of autarky, or economic isolation. The Burmese Way to Socialism emphasized that the military was to have a central role in governing the country, and that the Burmese language and Buddhism were central to identity. [10]
It was the first time Myanmar had disclosed its level of foreign currency since the coup, and compares with a World Bank figure of just $7.67 billion at the end of 2020.
The ministry is composed with Ministry of Industry, Ministry of Religious Affairs and Union Culture and Ministry of Defence. In 1964, it became reserve as Ministry of National Planning. In those years, the ministry performed as National Planning Board, Economic Planning Board, Economic and Social Board.