Population (thousand) (2015): 53,897.15
Multidimensional Poverty Index (%) : 0.888 (UNDP, 2000)
Inequality-adjusted Human Development Index, Country Rank (2014): 148
Gross Domestic Product per capita, at Purchasing Price Parity (2015) (US$): 5,500 ( est.)
Since 2010, the Government of Myanmar has been undertaking a series of crucial nationwide political and socio-economic reforms. The reform process has made economic liberalisation and the promotion of foreign investment key components to ensure Myanmar’s growth. The country’s economy is driven by agriculture and natural resources and investments in these sectors carry significant environmental and social implications, as a majority of vulnerable populations are directly dependent on natural resources for sustenance.
The Framework for Economic and Social Reforms that outlines policy priorities from 2012-2015, highlights the importance of “a pro-poor macroeconomic environment” to achieving inclusive growth. It states that concession agreements in natural resource sectors such as mining and energy should meet high social and environmental standards, as well as deliver equitable and transparent financial benefits.
The PEI programme in Myanmar was initiated in 2014 to help the Government promote and manage responsible investments and ensure inclusive growth. The programme aims to improve the quality of incoming foreign direct investments by strengthening national policies, investment management tools and the capacity of the Government to negotiate with investors and maximize benefits for local communities and minimize damage on the environment.
PEI in Myanmar is led by the Directorate of Investment and Company Administration under the Ministry of National Planning and Economic Development and works in collaboration with the Ministry of Mines.
PEI Myanmar is geared towards:
a) Strengthening investment management processes within DICA and related agencies to take into account environment and social considerations;
b) Supporting inclusive and responsible governance of mining and renewables (fisheries and forestry) including revenue transparency;
c) Improving the enabling governance context related to Myanmar’s legal frameworks for investment and sustainable development;
d) Strengthening local governance of natural resource investments and revenue management, including capacity building for implementation