{"id":41176,"date":"2017-01-19T15:34:04","date_gmt":"2017-01-19T08:34:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/where-did-all-that-foreign-interest-in-the-myanmar-economy-go\/"},"modified":"2017-01-19T15:50:49","modified_gmt":"2017-01-19T08:50:49","slug":"where-did-all-that-foreign-interest-in-the-myanmar-economy-go","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/where-did-all-that-foreign-interest-in-the-myanmar-economy-go\/","title":{"rendered":"Where did all that foreign interest in the Myanmar economy go?"},"content":{"rendered":"


\nThe country posted relatively lacklustre economic growth in 2016
\nSulepaya pagoda at Yangon. Boyloso\/Shutterstock
\nMyanmar 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.
\nIn its new \u201cGlobal Economic Prospects\u201d study, The World Bank attributed the moderating economic growth in the country due to a correction in the real estate market and an adjustment in the construction sector, coupled with weak external demand.
\nThe country ended 2016 with a real-term gross domestic product (GDP) growth of 6.5 percent, marking the first time in five years that its economy grew below 7 percent.
\nWhile the figure is still one of the region\u2019s most impressive \u2014 Thailand and Malaysia posted a 3.1 percent and 4.2 GDP growth for 2016, respectively \u2014 it is a decrease of 1.3 percentage points from The World Bank\u2019s June forecast. This puts Myanmar behind stellar GDP growth rates seen in Laos (7 percent), Cambodia (7 percent), and the Philippines (6.8 percent).
\nMore: The future of Myanmar real estate could lie in this sector
\nThe root cause of the deceleration could be a decline in foreign investment, Myanmar-based economist Seiichiro Sato told the Nikkei Asian Review.
\nThe value of approved foreign direct investments (FDI) in the country between April and December decreased 28 percent from the same period in 2015 to USD3.5 billion, according to the Directorate of Investment and Company Administration (DICA). Total FDI in the last fiscal year posted a decrease of USD1 billion from the previous one, according to DICA director general U Aung Naing Oo.
\nRemarkably enough, US companies did not funnel any FDI into Myanmar between the lifting of economic sanctions on the country by the Obama administration in October until the end of December, the Nikkei Asian Review reported.
\n\u201cMany investors, including foreign firms, are waiting to see because the government\u2019s economic policy remains unclear,\u201d said Junya Ishii, a senior analyst at Sumitomo Corporation Global Research.
\nMyanmar\u2019s new Investment Law will take effect in April with provisions consolidating those of the 2012 Foreign Investment Law and the 2013 Citizens\u2019 Investment Law.
\nRead next: What the lifting of US sanctions means for Myanmar\u2019s property market
\n
\nSource : property-report.com
\nRead more…Where did all that foreign interest in the Myanmar economy go?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The country posted relatively lacklustre economic growth in 2016 Sulepaya pagoda at Yangon. Boyloso\/Shutterstock Myanmar...<\/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-41176","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-aI8","jetpack-related-posts":[{"id":14920,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-to-grow-the-fastest-in-asia-pacific-this-year\/","url_meta":{"origin":41176,"position":0},"title":"Myanmar to grow the fastest in Asia-Pacific this year","date":"May 31, 2016","format":false,"excerpt":"\r An economic growth spurt ahead in Myanmar despite a stormy 2015 Yangon (Image credit: Grace Farson Blog) It 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. In its latest Asian Development Outlook\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":41176,"position":1},"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. Serge Pun, executive chairman\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3008,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/australia-myanmar-chamber-of-commerce-supports-myanmar-property-awards-2016\/","url_meta":{"origin":41176,"position":2},"title":"Australia-Myanmar Chamber of Commerce supports Myanmar Property Awards 2016","date":"January 29, 2016","format":false,"excerpt":"\r For a second consecutive year, the Myanmar Property Awards will have the support of A-MCC The Australia-Myanmar Chamber of Commerce (A-MCC) is once again on board as a supporting association for the second annual Myanmar Property Awards 2016, which will be held on Thursday, 30 June at the prestigious\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29461,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-bridge-that-will-change-yangons-real-estate-landscape\/","url_meta":{"origin":41176,"position":3},"title":"The bridge that will change Yangon\u2019s real estate landscape","date":"October 11, 2016","format":false,"excerpt":"\r Roads and other infrastructure projects from the Myanmar government and foreign entities will diversify growth around\u00a0the country\u2019s largest city Pedicabs at Dala township in Myanmar. maodoltee\/Shutterstock With the right infrastructure projects, and a little help from the World Bank, property growth could radiate from its present concentration in downtown\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21801,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-has-a-new-five-star-hotel-courtesy-of-vietnam\/","url_meta":{"origin":41176,"position":4},"title":"Myanmar has a new five-star hotel, courtesy of Vietnam","date":"August 2, 2016","format":false,"excerpt":"\r A Melia hotel is now open for business in Yangon, thanks to a Vietnamese real estate giant A millennia-old stupa stops traffic in Yangon. Image credit: Jason Eppink (Flickr) Vietnamese property developer Hoang Anh Gia Lai (HAGL) opened the doors to its five-star hotel in Yangon on Sunday, marking\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":41176,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41176"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=41176"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41176\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=41176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=41176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=41176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}