ADB: Myanmar to be middle income nation by 2030
Myanmar can follow Asia’s fast growing economies and become a middle
income nation by 2030 if it can surmount substantial development
challenges by further implementing across-the-board reforms, said the
Asian Development Bank (ADB).
Myanmar can follow Asia’s fast growing economies and become a middle
income nation by 2030 if it can surmount substantial development
challenges by further implementing across-the-board reforms, said the
Asian Development Bank (ADB).
In its report “Myanmar in transition: Opportunities and Challenges”, ADB put forth its first major assessment of Myanmar since the country began political and economic reforms in 2011.
ADB’s Vice President for East Asia, Southeast Asia and the Pacific Stephen Groff said that Myanmar’s strategic location, rich natural resources and abundant labor force leave it perfectly positioned to prosper from Asia’s dynamic economic growth.
“ Myanmar could be Asia’s next rising star, but for this to happen there needs to be a firm and lasting commitment to reform,” the ADB official said.
To fully realise Myanmar’s potential, the report suggests the country must focus on strengthening connectivity - via infrastructure in transport, power and telecommunications services, as well as modernizing its financial sector. Its economic base must also broaden beyond agriculture to the manufacturing and service sectors to meet a growing demand for jobs.-VNA
In its report “Myanmar in transition: Opportunities and Challenges”, ADB put forth its first major assessment of Myanmar since the country began political and economic reforms in 2011.
ADB’s Vice President for East Asia, Southeast Asia and the Pacific Stephen Groff said that Myanmar’s strategic location, rich natural resources and abundant labor force leave it perfectly positioned to prosper from Asia’s dynamic economic growth.
“ Myanmar could be Asia’s next rising star, but for this to happen there needs to be a firm and lasting commitment to reform,” the ADB official said.
To fully realise Myanmar’s potential, the report suggests the country must focus on strengthening connectivity - via infrastructure in transport, power and telecommunications services, as well as modernizing its financial sector. Its economic base must also broaden beyond agriculture to the manufacturing and service sectors to meet a growing demand for jobs.-VNA
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
World
Laos speeds up granting licences to foreign workers
Laos's Ministry of Labour and Social Welfare plans to issue visas to illegal foreign workers and extend permits to legal ones so that they can continue to work in the country.
World
Argentinian scholar praises Vietnam’s April 30, 1975 victory
The complete reunification of Vietnam on April 30, 1975 was an extremely significant event in the history of the country and the world, opined a scholar from the Institute for International Relations at the National University of La Plata, Argentina.
