{"id":14920,"date":"2016-05-31T13:50:48","date_gmt":"2016-05-31T06:50:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-to-grow-the-fastest-in-asia-pacific-this-year\/"},"modified":"2016-05-31T14:01:17","modified_gmt":"2016-05-31T07:01:17","slug":"myanmar-to-grow-the-fastest-in-asia-pacific-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-to-grow-the-fastest-in-asia-pacific-this-year\/","title":{"rendered":"Myanmar to grow the fastest in Asia-Pacific this year"},"content":{"rendered":"


\nAn economic growth spurt ahead in Myanmar despite a stormy 2015
\nYangon (Image credit: Grace Farson Blog)
\nIt seems to be clear skies ahead for Myanmar\u2019s economy, which is still riding high on recent reforms that has democratised society and eased international sanctions.
\nIn its latest Asian Development Outlook report, Asian Development Bank expects Myanmar\u2019s economy to grow by 8.4 percent over the year, outpacing other countries in Asia and the Pacific.
\nThis remarkable growth is coming from an especially challenging year marked by a monsoon season that ravaged \u201cone-fifth of all cultivated land,\u201d ADB reported.
\nADB acknowledged that the economy is \u201cnarrowly based,\u201d its growth attendant on \u201cnatural resource exports, construction, and tourism.\u201d
\nTourist arrivals in 2015 shot to 4.7 million, while tourist spending grew 19 percent to USD2.1 billion. Garment exports went up 28 percent to USD2 billion.
\nMore:\u00a0PropertyGuru taps ShweProperty.com for an exclusive partnership in Myanmar
\nThe Directorate of Investments and Company Administration revealed that foreign direct investments reached USD9.4 billion over the past year, per The Nation, with more than USD3 billion going to the real estate sector.
\nMyanmar\u2019s GDP has not dipped below 6 percent since 2012. Aung San Suu Kyi\u2019s National League for Democracy party swept a partly free election that year under a nominally civilian government, encouraging Western nations to lift sanctions.
\nSuu Kyi\u2019s long-time confidante Htin Kyaw took oath in March as the country\u2019s first\u00a0civilian president, stoking investor interest from ASEAN countries and further afield.
\nMyanmar stopped short of its economic potential last year though. Intense flooding over a three-month period, exacerbated by cyclone Komen, set the economy back by USD1.5 billion or 3 percent of the country\u2019s GDP, according to ADB.
\nDespite this setback, Myanmar is ready to welcome an influx of foreign investors and experts at the first Property Report Congress Myanmar, which be hosted by PropertyGuru next month in Yangon. At the top of the agenda will be a local real estate outlook in the current economic climate, and discussion on how to build a mortgage market.
\n
\nSource : property-report.com
\nRead more…Myanmar to grow the fastest in Asia-Pacific this year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

An economic growth spurt ahead in Myanmar despite a stormy 2015 Yangon (Image credit: Grace...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-14920","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3SE","jetpack-related-posts":[{"id":26632,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-residents-are-moving-to-this-myanmar-township\/","url_meta":{"origin":14920,"position":0},"title":"Why residents are moving to this Myanmar township","date":"September 20, 2016","format":false,"excerpt":"\r Prosperity is spreading even to the country\u2019s rice-growing communities Travelers have to cross the muddy river to get to the Ye Le Paya pagoda, a tourist spot in Kyauktan township. Benjaporn \/ Shutterstock.com It turns out downtown Yangon is not the only one benefitting from Myanmar\u2019s return to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38085,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-property-awards-2017-is-launched-and-open-for-nominations\/","url_meta":{"origin":14920,"position":1},"title":"Myanmar Property Awards 2017 is launched and open for nominations","date":"December 14, 2016","format":false,"excerpt":"\r PropertyGuru has announced the return of Myanmar\u2019s biggest gathering of real estate achievers On the panel: (L-R) Chairman of the judges Richard Emerson, managing director at Emerson Real Estate (Myanmar); Terry Blackburn, founder and managing director, Asia Property Awards; and Zaw Erskine, director at BDO, official judging supervisor After\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/south-koreas-overheated-property-market-to-hurt-economic-growth-in-2018-and-2019-warns-adb\/","url_meta":{"origin":14920,"position":2},"title":"South Korea\u2019s overheated property market to hurt economic growth in 2018 and 2019, warns ADB","date":"October 1, 2018","format":false,"excerpt":"\r The Asian Development Bank has issued a fresh warning over South Korea's overheated property market ignited by loose credit policies in recent years. The bank cautioned that growth in Asia\u2019s fourth-largest economy would slow further this year and in 2019 not only because of the ongoing US-China trade war,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18122,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/top-10-predictions-for-yangon-real-estate-in-2016\/","url_meta":{"origin":14920,"position":3},"title":"Top 10 predictions for Yangon real estate in 2016","date":"June 30, 2016","format":false,"excerpt":"\r We\u00a0divine what lies ahead for Myanmar\u2019s resurgent city Image credit: mmbiztoday.com Some real estate brokers have doubts that property prices in Yangon will return to peak levels seen in 2013 and 2014. However, there\u2019s enough hope to go around: Colliers International Myanmar predicts Yangon would see a stronger year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41176,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/where-did-all-that-foreign-interest-in-the-myanmar-economy-go\/","url_meta":{"origin":14920,"position":4},"title":"Where did all that foreign interest in the Myanmar economy go?","date":"January 19, 2017","format":false,"excerpt":"\r The country posted relatively lacklustre economic growth in 2016 Sulepaya pagoda at Yangon. Boyloso\/Shutterstock Myanmar riveted the world\u2019s attention when it began embracing democratic processes in 2011, setting into motion the demise of decades-long junta rule. However, the market\u2019s star may be on the wane. In its new \u201cGlobal\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43039,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-real-estate-is-getting-better-and-stronger\/","url_meta":{"origin":14920,"position":5},"title":"Myanmar real estate is getting \u201cbetter and stronger\u201d","date":"February 6, 2017","format":false,"excerpt":"\r Slow and steady wins the race Downtown Yangon. Sira Anamwong\/Shutterstock A leading developer has expressed hope that sentiment for Myanmar property would grow more bullish as the country adjusts to the incumbent government, led by Aung San Suu Kyi\u2019s National League for Democracy (NLD) party. 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