Development Of SMEs In Myanmar In The Globalization Era

Abstract

SMEs are of overwhelming importance to the young and growing economies of most Southeast Asian nations, but this is exceptionally the case for Myanmar. The country is rich with resources but has not managed to rid itself of post colonial mismanagement, socialist and bureaucratic tendencies. This paper evaluates the existing private sector development policy in Myanmar which can only be defined as lacking any substance, coherence and coordination. Myanmar needs to create a meaningful and comprehensive policy for the development of its private sector. This includes trade and investment liberalization and creation of infrastructure. Much can be learned from other members of ASEAN, such as Singapore, Malaysia and Thailand, that have succeeded in similar endeavors.