Abstract: This study was conducted to find out especially how the changing times both politically and economically are affecting Myanmar's total attractiveness, what kind of assets are seen to be most important for future success, and what improvements are needed to reach the objectives. The objective is to conduct a profound study and assess a number of different factors on many different point of views to define the current conditions of Myanmar's economic environment. Also, the impact of development in Association of Southeast Asian Nations organization (ASEAN) is examined and the possible impacts the improvements are having on Myanmar.
From the findings that were made, it is possible to claim the next years in Myanmar are critical indeed to predict the future. The biggest issues are for instance how long does the transition towards transparent, peaceful democratic nation take. The legal environment needs to be updated, infrastructure built up and stability in banking and finance sector to be set up.
Practical tips for the businesses that consider investing in Myanmar consists of three main points: do a profound research on the market with assessment of demand, capacity, supporting industries and competitors; find a trustworthy local partner which shares the same interests with you and; lastly, have an excessive amount of patience if the things are going sideways in the beginning. Most of the foreign companies operating there now are huge global players with deep pockets and thus, probably difficult to challenge. Myanmar seems highly potential destination, but a lot of progress is needed to reach the same level than its competitors in Southeast Asia.
Keywords: ASEAN, Myanmar, Business attractiveness, FDI.
Title: The Study of ASEAN Business Attractiveness with a Case Study of Myanmar
Author: Henri Koutola
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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