Myanmar will remain a high achiever worldwide, with real GDP growth forecast to average 7.3% a year to 2022. The brisk pace of economic growth will continue to be driven by foreign-invested projects in a number of areas, including:
- energy, where the Government’s ambitious plan to electrify the nation by 2030 prompts innovative generation and distribution methods;
- telecommunications, where the rapid growth of smartphone ownership has reached over 90% of the population in only 5 years;
- transport, where a rapidly growing passenger and freight transport network has already led to accelerated road degradation and lengthy traffic delays; and
- water, waste and sanitation, where rapid urbanisation of Myanmar’s metropolitan centres is creating previously unseen challenges.
The current forecast is that there will be a gap between the funding needed for the ambitious infrastructure growth that Myanmar needs, and the combined local and foreign investment that will be available.