How Easy it Easy to Do Business in Myanmar?

The easiness of doing business in Myanmar depends on several factors. One of themajor factors is the sector you are interested in. Those who have invested in sectorslike manufacturing say the most challenging part about doing business in Myanmar isthe underdeveloped infrastructure, mostly electricity. Frequent power outages andother infrastructure issues can be frustrating when you set up an efficient factory.

Apart from the poor infrastructure, other foreign entrepreneurs often cite culturaldifferences in the work environment as being one of the most difficult parts ofrunning a business in Myanmar. A lot of investors arrive in the city with highexpectations about work output of their employees, but many discover that there arecompetency issues among them, and they find problems in motivating people toperform well.

Dealing with bureaucracy and redtape also stands as one of the majorproblems of doing business inMyanmar. Myanmar business thatrequires you to have a permits andapprovals from particular authoritiescan seriously frustrate you. Peoplewait days, weeks or months to receivea business permit that would takehours in other countries. The rule oflaw in Myanmar is also what makebusiness not easy.

Some businesspeople cite the lack of therule of law. This makes it difficult to dealwith some legal issues in the city. Somesectors in Myanmar have very ambiguouslaws, and even where there are laws,application of these set laws vary widely.For sure it can’t be easy doing business insuch an area. With all these difficulties,there are a lot of positives for those doingbusiness in Myanmar. Many of thebusiness people who have run businesses

in Myanmar for a long time cite the camaraderie they have built with a core groupof employees as a major reason they are stuck in the country. Most foreignentrepreneurs are often delighted to find that Myanmar employees are respectfulin general and always follow company protocols as per the law.

For those who are looking to invest in this country, it is of great importance tospend some time on the ground checking on particular sectors you are interestedin. Know who is running which sector in Myanmar before you make a nobledecision of putting an investment there. Those who are going to be patientenough in the running process will excel in this country.

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