Myanmar sees reforms in three sectors—Business launching, the issuance of construction permit and the power supply sector, said Aung Htoo, Deputy Minister for Commerce.

On October 31, the World Bank released its report for Ease of Doing Business Index for 2019. In 2018, the rank of Myanmar remained unchanged at 171 in 2018 from 171 in 2017.

“Myanmar’s mark has slightly increased from 44.11 per cent to 44.72 per cent. The World Bank recorded the economic reform, the issuance of construction permit and the power supply. I am not satisfied with it as only three out of ten sectors see improvements,” added Deputy Minister Aung Htoo who is also head of the group on improving Ease of Doing Business Ranking.

According to the current investment plan, Myanmar has set a goal of becoming one of the top-100 countries on the ranking in 2020-2021.

For the improvement of Doing Business Ranking, the country calls for infrastructure development in the sectors which may have impacts on economic sector, including electricity, the registration of ownership and trade.

There are around 70 indicators in the Doing Business 2017. There will be around 120 indicators when they are subdivided. The number of indicators is expected to increase, according to Myanmar Investment Promotion Plan.

Myanmar needs to improve its capacity for these indicators in order to attract investors and improve the business environment. The main objective is to remove the bureaucratic system under which officers are appointed by the central body and minimizing businesses expenses.

The fact that indicators should be seen from the investors’ point of view is of great importance. Related ministries and organizations should draft and implement the plan for the step-by-step improvement of the objectives of indicators.

In 2015, the Commerce Ministry signed an agreement with the World Bank on Ease of Doing Business.