Frost & Sullivan: Future is Bright for Myanmar

Frost & Sullivan: Future is Bright for Myanmar PR Newswire BANGKOK, Dec. 4, 2012 BANGKOK, Dec. 4, 2012 /PRNewswire/ -- Frost & Sullivan is optimistic on the future growth for Myanmar as the country is an untapped new frontier at the crossroads of India, China and South East Asia offering abundant opportunities. Mr. Vivek Vaidya, Vice President at Frost & Sullivan said that Myanmar was among first few countries US President Barack Obama chose to visit in his second term indicates Myanmar's improving status and image among the global community. "Myanmar, the only neighbor for both China and India is likely to assume great geo-political-business importance in years to come," he added. He added that Myanmar has a large untapped potential and is truly going through transition with a population of more than 60 million. He also that Myanmar's GDP at purchasing power parity (PPP) has been growing at a very solid rate and is expected to continue to do so over the next few years in the range of 5-6 per cent. He noted that Myanmar's GDP (PPP) has increased by 20 per cent since 2007. Mr. Vaidya said Myanmar has a very young population spread that will help to drive it economically. He added that the low unemployment rate of about 5 per cent was due to the growth of the agriculture sector, which remains the key driving force of the Myanmar's economy both in terms of GDP and employment.