Report says Yangon among best places to do business in Myanmar

Yangon, Sagaing, Bago and Nay Pyi Taw have emerged as the best environments in which to do business in Myanmar, according to the Myanmar Business Environment Index 2020 (MBEI).

The Asia Foundation released the MBEI 2020 on December 11. This year’s report is the second after it was first launched in 2019. The MBEI is a survey of primarily businesspeople measuring perceptions on the ease of doing business across Myanmar. Results are analysed to produce an index for each state and region of Myanmar, establishing a benchmark for rating business-friendliness.

The MBEI is organised into 10 sub indices, each a measure of a specific dimension of the business environment such as the cost of entry, government transparency, access to land, and the availability of suitably skilled labor. Each sub index consists of 153 indicators.

Findings from the MBEI 2020 reveal that there have been improvements in Myanmar’s local governance for private sector development.

Some business environment dimensions have improved more than others; results for seven out of the 10 sub indices show improvements while there was a decline for just one dimension: law and order. Chin and Shan States are at the bottom of the report.

In addition to being able to compare business landscapes between Myanmar’s states and regions, the MBEI 2020 offers specific insights within each state and region. The index illustrates the strengths and weaknesses of each state and region, allowing government decision-makers, businesses, and the public to track progress in making each state and region a better place to start and grow businesses.

“Overall, Myanmar business government is found to have made improvements,” said Mark McDowell, who led the MBEI 2020 survey.

Kachin had the highest cost to entry while Rakhine had the lowest. Kayah scored the highest for access to land and security while Mon was at the bottom. For registration regulations, Bago scored the highest and Tanintharyi the lowest, while Kayin saw the highest and Shan the lowest, for environmental compliance, Mon the highest, Rakhine the lowest and for availability of suitably skilled labor, Mandalay the highest while Shan the lowest. For rule of law, Bago emerged at the top while Kayah at the bottom.

When surveying each township, Hlaing Tharyar and Taikkyi in Yangon, Pyinmana in Nay Pyi Taw and Bago are the best townships to do business.

The results are based on surveying 5,605 businesses in 85 townships across the country.

Source : Myanmar Times