Myanmar dead bottom among ASEAN countries in ease of doing business

Myanmar dead bottom among ASEAN countries in ease of doing business
Briefing on 2019 Doing Business Myanmar report in progress at Novotel Yangon Hotel
Briefing on 2019 Doing Business Myanmar report in progress at Novotel Yangon Hotel
Published 20 November 2018
Nilar

Myanmar has been at the bottom of the list of 10 ASEAN countries in the ease of doing business ranking, according to a 2019 Doing Business in Myanmar report.

The ease of doing business means reducing procedural steps, simplification, time and cost reduction in services provided by government departments for businesses.

According to the Doing Business 2019 report, New Zealand is ranked first, followed by Singapore, Denmark, Hong Kong, Korea, Georgia and Norway.

"Among ASEAN countries, Singapore and Malaysia are top tier. Other countries have also improved their rankings. Ironically, our country is ranked first in ASEAN countries if we look at the list from bottom to top. Our country is rich in natural resources. It is geographically strategic. Despite these sound conditions, the current situation is the lowest. This indicates that we must put more practical effort," said Aung Soe, director general of Myanmar Trade Promotion Board and secretary of Ease of Doing business Ranking Improvement Task Force.

According to the report, where it concerns ASEAN countries, Singapore is ranked first, followed by Malaysia, Thailand, Brunei, Vietnam, Indonesia, the Philippines, Cambodia, Laos and Myanmar.

Doing business reports are annually issued by the World Bank show that Myanmar was ranked 182 among 189 countries in 2014; 177 among 189 countries in 2015; 171 among 189 countries in 2016; 170 among 190 countries in 2017; 171 among 190 countries in 2018; and 171 among 190 countries in 2019.    

Deputy Commerce Minister Aung Htoo, also leader of Ease of Doing business Ranking Improvement Task Force, said it had been discouraging to see only 3 of 10 economic sectors show improvement in the country's economic reforms. The three sectors that had achieved progress were business expansion, insurance of construction permits and electricity access, he added.

Under the ongoing investment project, it has been targeted to be on the list of top 100 countries in the ease of doing business in 2020-2021.