A Case for Industrial Development Strategy in Myanmar

Abstract

Myanmar's new government unveiled a 12-point national economic policy in July 2016, setting the direction for the country's economic development during the next five years. The policy states that Myanmar should achieve people-centered, inclusive and sustainable development, where economic development serves "national reconciliation," creates jobs, diversifies its economy away from the natural resource sector, and produces "balanced development" across states and regions. Among others, it emphasizes public financial management reform, human resource development and infrastructure development, all of which are in dire need of attention as Myanmar tries to pull itself out of centuries of isolation and underdevelopment.