MYANMAR

Myanmar (formerly known as Burma) is a resource-rich country.  About 50% of Myanmar’s land area is covered with forests, blessing the country with abundant forest resources.    The country is also a well-known producer of gems in the world, which boasts of rubies, diamond, cat’s eye, emerald, topaz, pearl, sapphire, coral and a variety of garnet tinged with yellow.  Myanmar cultures about 400,000 units of pearls every year from eight pearl farms in the country with investment from Australia, Japan, Indonesia, Philippines, China and Thailand. To this day Myanmar remains one of the most mysterious and undiscovered destinations in the world. A land of breathtaking beauty and charm yet only recently emerging into the modern world.

Location

Southeastern Asia, bordering the Andaman Sea and the Bay of Bengal, between Bangladesh and Thailand – a strategic location near major Indian Ocean shipping lanes.

Climate

Tropical monsoon; cloudy, rainy, hot, humid summers (southwest monsoon, June to September); less cloudy, scant rainfall, mild temperatures, lower humidity during winter (northeast monsoon, December to April)

Natural Resources

Petroleum, timber, tin, antimony, zinc, copper, tungsten, lead, coal, marble, limestone, precious stones, natural gas, hydropower

Population

48,137,741 (July 2009 est.)

Ethnic Groups

Burman 68%, Shan 9%, Karen 7%, Rakhine 4%, Chinese 3%, Indian 2%, Mon 2%, other 5%

Religions

Buddhist 89%, Christian 4% (Baptist 3%, Roman Catholic 1%), Muslim 4%, animist 1%, other 2%

Languages

Burmese, minority ethnic groups have their own languages

National Holiday

4^th January

Currency

Kyat (MMK)

Fiscal Year

1^st April to 31^st March

Agriculture products: Rice, pulses, beans, sesame, groundnuts, sugarcane; hardwood; fish and fish products.

Industries: Agricultural processing; wood and wood products; copper, tin, tungsten, iron; cement, construction materials; pharmaceuticals; fertilizer; oil and natural gas; garments, jade and gems.

Poor investment climate hampers the inflow of foreign investment. Foreign investors have shied away from nearly every sector except for natural gas and power generation. The most productive sectors will continue to be in extractive industries - especially oil and gas, mining, and timber.  Other areas, such as manufacturing and services, are struggling with inadequate infrastructure, unpredictable import/export policies.  Though the Burmese government has good economic relations with its neighbors, better investment and business climates and an improved political situation are needed to promote serious foreign investment, exports, and tourism.  Myanmar has been striving for the revival of tourism industry amidst a hard time when the country is in a process of rehabilitation after storm and the global economy is experiencing a downturn..