Heading towards a bright future

The Business Times
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Published: 16 Nov 2015

How do the results of Myanmar’s Nov 8 general election affect your business decisions about the country?

The results of Myanmar’s election are wonderful news to the international community. Myanmar’s move towards a democracy positions the country as an exciting and emerging area of growth and development ever since it began opening up in terms of its political and economic reforms in the past few years.

International sanctions were lifted in 2013 and with the landslide victory of Aung San Suu Kyi’s National League for Democracy (NLD) party this month, Myanmar is becoming an increasingly attractive proposition for businesses and investors. It is always exciting when new markets open up, as growth has been fairly muted in mature markets and the global economy.

The challenging business environment in Singapore, for instance, has prompted us to seek out new markets for growth and expansion. While this latest development in Myanmar is extremely positive, we will still have to wait and see how the political transition unfolds because the most important consideration for doing business in a country is its political stability.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

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