Myanmar has been listed in the top 20 of the World Bank’s 2020 ease-of-doing-business index.
Myanmar implemented five initiatives that enhanced its business environment according to the World Bank. Myanmar launched online registration platform to cut the need for in-person interaction and made property registration faster by streamlining deed registration and appraisal.
Moreover, a new company law is also strengthening minority investor protection by mandating greater disclosure of transactions with interested parties, increasing director liability and requiring greater corporate transparency. Additionally, Myanmar’s courts have started publishing performance measurement reports.
The Yangon authorities have strengthened construction quality control by imposing stricter qualification requirements for architects and engineers, and have boosted investment in its water and sanitation infrastructure.
Myanmar ranked No.171 in the World Bank’s 2019 ease-of-doing-business index.
Source: The Myanmar Times