India - Myanmar Business and Cultural Council

Myanmar, formerly Burma, is a Southeast Asian country known for its diverse cultures, ancient temples, and rich history. Its capital is Naypyidaw, and it has faced political turmoil and ethnic conflicts. Major cities include Yangon and Mandalay.

Ambassador and Consul General

Global India Business Forum presented honorary membership to H.E. Mr. Kyaw Aung Ambassador Extraordinary & Plenipotentiary Embassy of the Republic of the Union of Myanmar. The GIBF team had a fruitful discussion to collaborate with Myanmar to explore different business opportunities and trade between two countries. Global President of GIBF, Dr. Jitendra Joshi and Co-Founder & Director - Global Operations, Deepali Gadkari attended the meeting.

embassy-of-myanmar-ambassador-and-consul-general

Oil and natural gas, vegetables, wood, fish, clothing, rubber and fruits.

Fuel, vegetable oil, vehicles, pharmaceutical products, construction equipment, polymers, tires and machinery.

About Myanmar

ABOUT Myanmar

Myanmar, also known as Burma, is a Southeast Asian nation bordered by India, Bangladesh, China, Laos, and Thailand. It boasts a rich cultural heritage influenced by its diverse ethnic groups, including the Burman, Shan, Karen, and Rakhine, among others. The country's official language is Burmese, and its predominant religion is Theravada Buddhism.
Myanmar's history is marked by various dynasties, colonization, and political upheaval. The British colonized the country in the 19th century, incorporating it into British India until 1937. Myanmar gained independence in 1948 but experienced decades of military rule following a coup in 1962. In recent years, the country has seen some political reforms, but challenges remain, including ethnic conflicts and human rights issues.
The economy of Myanmar is primarily based on agriculture, with rice being the main crop. Other significant sectors include mining, oil and gas, and tourism. The country's natural beauty, with attractions like the ancient city of Bagan, Inle Lake, and the beaches of Ngapali, draws numerous visitors.

Business Opportunities in Myanmar

BUSINESS OPPORTUNITIES IN Myanmar

Myanmar has ample opportunities for those who want to expand their businesses to Southeast Asia. The law for foreign ownership is also a major attraction for businesses outside the country.
There is 100% foreign ownership in non-restricted sectors and an increase in land lease duration. In addition, foreign investors get corporate income tax exemption for three years at a minimum. They also get and exemption from or reduction of taxes on imported capital goods and raw materials. The following are some of the sectors that foreign investors can explore -
Agriculture, Aquaculture and fisheries, Urbanization, Tourism and hospitality, Power sector Oil and gas, Mining, Manufacturing, Infrastructure, Telecom and Banking.

Exports and Imports In Myanmar

Overview In 2022, Myanmar was the number 86 economy in the world in terms of GDP (current US$), the number 72 in total exports, the number 75 in total imports, the number 166 economy in terms of GDP per capita (current US$) and the number 102 most complex economy according to the Economic Complexity Index (ECI).

Top Exports of Myanmar

The top exports of Myanmar are Precious Stones ($4.13B), Petroleum Gas ($3.49B), Dried Legumes ($1.62B), Non-Knit Women's Coats ($1.24B), and Rice ($1.01B), exporting mostly to China ($9.62B), Thailand ($3.48B), Germany ($1.68B), Japan ($1.52B), and United States ($1.15B).

Top Imports of Myanmar

The top imports of Myanmar are Refined Petroleum ($5.21B), Crude Petroleum ($966M), Special Purpose Ships ($800M), Light Rubberized Knitted Fabric ($748M), and Palm Oil ($740M), importing mostly from China ($13.5B), Thailand ($4.7B), Singapore ($4.22B), Malaysia ($1.31B), and Indonesia ($1.06B).

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Global India Business Forum - Brochure

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