Liberalized economy
Myanmar adopted the market oriented economic system in the year 1988 after adopting the centralized planning economic system for more than two decades. Substantial stabilization and reform measures had been undertaken to be in line with the new economic system.
As part of this, Myanmar government enacted the Foreign Investment Law in 1988 to attract foreign investment and to boost investment in the private sector.
Myanmar Investment Commission (MIC)
In order to oversee and administer the FIL, the MIC was formed and it acts as initial approving authority for investment proposals. The Directorate of Investment and Company Administration (DICA) serves as the Secretariat of MIC.
Low cost of labor force
Myanmar has an active labor force of 17.96 million. Fairly well trained manpower and skilled labor are available. The labor cost in Myanmar is quite low compared to other neighboring countries. In the private sector it is usually fixed on mutual agreement between the employer and employee.
Abundant natural resources
Myanmar is rich in natural resources such as petroleum, timber, tin, antimony, zinc, copper, tungsten, lead, coal, some marble, limestone, precious stones, natural gas and hydropower.
(Source: Myanmarsnet)