The cardinal bank of Burma has liberalized the fiscal organisations for competition, efficiency and integrating into the regional fiscal system. As of terminal of December 2007, there are 15 domestic private Bankss and 13 representative offices of foreign Bankss and 3 representative offices of foreign insurance companies in Burma. Accoding to the alteration in the economic demands of the state, the cardinal Bank rate has been increased from 10 % to 12 % since April 1,2006. Agricultural liberalisation speeded up after the riddance of the authorities procurance system of the chief agricultural harvests such as rice, pulsations, sugar cane, cotton, etc.
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Challenges confronting Burma fiscal sector: –
For Burma fiscal system to go strong and feasible, so as to help growing, it is indispensable for tha banking system to overhaul. Since Myanmar ‘s fiscal ( banking ) system remains really much BASIC in range, the challenges confronting the banking industry to mordernize are many and varied as following some schemes issues will certify.
( a ) Capacity Building For the Bank: –
Recently, some Burma private Bankss, among 19 private Bankss in operation, are given authorised trader licenses for the first clip since 1998. As these Bankss venture in to international banking, the demand for extremely trained bank professionals is intencety felt.
To this terminal of some Bankss including kanbawza bank, have ired high profile foreign bankers to make full the spread but we do recognize the essencial demand to develop immature professionals to derive professional cognition and accomplishments in modern bank service.
( B ) Conformity and sound banking necessity: –
The issue of conformity is non merely concern with KYC but besides related to good harmonizing pattern that meet ASEAN regional standared within equal legal construction.
Central bank of Burma required all accredited Bankss to stand for regulations and ordinance, but every bit of import for them is to conform to the requiments laid do wn 1,2 and 3 by the BIS.
( degree Celsius ) Governance constructions of Bankss
Structure of private Bankss intervention towards more independent bank direction and high transparence may turn out to be helpful in debaring hazards and protect stockholder involvement. The centrel bank and the Bankss may necessitate to see what edict of institutional set up is in topographic point or planned, such as transmutation to public companies position which are about non-existens in Burma bank ‘s present direction construction.
( vitamin D ) Risk direction of Bankss: –
As can be judged by 1997/98 Asiatic fiscal crisis including Burma banking crisis of 2003/04, even feasible private Bankss face the hazard of bank tallies caused by baseless rumor. Burma is commercial Bankss to put in a hazard direction system in which Bankss are non good prepared. As we more towards good organisation thrust, employment of professional in loans, commission and maintence of high liquidness to forestall insolvency hazards may be points for consideration.
Myanmar ‘s roadways received the authorities ‘s attending in the 90 ‘s, but non many betterments have been made. Approximately 12 per centum of the roads are paved with an overpowering bulk being made of crushed rock ( about 2/3 ) .A The staying roads are non easy accessible by autos, but by landrovers or ox carts.
The railroads are n’t much better, since there are from the clip of British regulation ( and authorities owned and run ) .A There are about 2,000 stat mis of path, but they do n’t link with railroads outside of Myanmar, merely with major metropoliss within the state.
The major manner of transit for riders or for transporting lading is the usage of the inland waterways.A There are about 8,000 stat mis of rivers and canals with 2,000 stat mis of it navigable for big commercial boats.A Sing the fact that most of the major metropoliss in Myanmar are close H2O, this is n’t surprising.
There is an air hose in Myanmar ( Myanmar Airways ) that is owned by the authorities and does hold international service to a few countries/cities.A Joint ventures with companies in Singapore have brought about the modernisation of domestic flights.A There are other air hoses ( international bearers ) who provide flights straight to Mandalay and Pagan.
Transportation system in Myanmar is non so good as other development states. But, in now, more convenient than earlier. Air manner is more convenient for short clip trip. If you have plenty of clip you want to see by different types of manner, you might bask to utilize by train ( railroad ) . High manner coach is cheaper than train.
Domestic air hose
A There are 4 domestic air hoses in Myanmar. Myanmar Airways ( Union of Burma Airways ) for proprietor of provinces once. At present Myanmar Airways is private company. Air Bagan, Air Mandalay & A ; Yangon Airways are besides private and new.
In local trip, Air Bagan, Air Mandalay or Yangon Air is more suited for alien. Myanmar Airways fee is inexpensive but plane is instead old and agenda be canceled frequently. We recommend to utilize Myanmar Airways, the topographic point you want to travel, run merely Myanmar Airways.
Railway lines in Burma are really narrow as britiesh ‘s yearss. After independency twenty-four hours, there is no maintences in railroads. When the train runs on railway are really rocking from side to side.besides, railroads is ever tardily.
Yangon Railways Station ( Enquiry & A ; Inoformation )
202175, 202176, 202178, 274027
Ticket Sale Centere
06:00 to 16:00
Bogyoke Aung San St. , Kyauktada Township
Sale in progress one twenty-four hours
Sale in progress 3 yearss
You have to maintain in your head ‘ Every trains are non on clip agenda, it is natural to detain ‘
At late, Highway coach runs to many parts. They normally use 2nd manus coach that made in Japan. Other roads are still no good except Yangon-Mandalay. Highway coach menu is cheaper than other transit charges.
Most of the Highway Ba bases are located in Aung Mingalar main road coach station composite near the airdrome. Bus ticket might be sale one twenty-four hours before the going day of the month.
Tourism industry was established in 1992 by authorities but besides some private endeavors are besides assisting to develop touristry industry. Tourism industry is being easy developing there are 794505 visitants are being sing in every twelvemonth.
Positive & A ; negative facets
Tourists are to the full cognizant about the burma natural beauty.
Advocacy groups are advancing touristry industry. For the benefit of the economic system of Burma.
Burma ‘s visitants are comparative less than its neighbour states political state of affairs.
In Burma there are 685 tour companies [ june 2011 ] .There are entire 18 in which 14 are international and 4 are domestic. In Burma there are 187 trapostation and 3156 are tour ushers
2006 – 2007
2007 – 2008
2008 – 2009
2009 – 2010
2010 – 2011
Types of tourers in destification
Cultural touristry = jangon, bangon, manadav, mrauboo, bago.
Eco= touristry popa saddle horse Victoria
Marire touristry =mjeik archipelago
Beach touristry =nagapali, chaungtha, nauresaung
Museums in Burma.
chin province cultural museum.
Kachin province cultural museum.
Kayah sate cultural museum.
Laukkai drugs riddance museum.
Oil gas and gasoline
Energy Demand and Supply. Despite sitting on immense energy resources, Myanmar has one of the lowest commercial per capita ingestion in Southeast Asia. This low energy demand is due to its low per capita income and deficient energy substructure, as reflected by its entire electrification rate of merely 26 % . In 2007, harmonizing to the International Energy Agency, Myanmar ‘s entire primary energy supply was around 15.6 million dozenss of oil equivalent ( MTOE ) , with an mean one-year growing rate of 3.3 % from 2000 to 2007. The state ‘s primary energy supply mix consisted of coal, oil, gas, hydro and biomass. Energy from biomass accounted for 66.3 % of entire energy supply, followed by gas with 19.6 % , and oil and crude oil with 11.3 % . Hydro and coal accounted for merely 2 % and 0.8 % of entire energy supply. Final energy ingestion grew at an norm of 3.3 % from 2000 to 2007, with the highest growing being in the industrial sector followed by the commercial and transport sector. Residential energy ingestion grew the slowest, although it is the largest consumer of energy, chiefly utilizing biomass.
Oil and Gas. A sum of 105 blocks were demarcated in onshore ( 53 ) and offshore ( 52 ) . Proven oil militias total 160 million barrels ( mmbbl ) . Proven gas militias entire 11.8 tcf with immense potency for find. Gas production in FY2011 was about 1,232 MMCF/D. Myanmar ‘s onshore oil production is estimated to hold reached 7.6 1000 barrels per twenty-four hours ( thousand b/d ) in 2011. In add-on, condensates of 11.6 m b/d were produced from offshore gas Fieldss. In FY2011, the entire demand for crude oil merchandises was 8.15 mmbbl consisting 3.70 mmbbl of gasolene, 3.38 mmbbl of Diesel, 0.60 mmbbl of air power oil and others. The crude oil merchandises were produced from three refineries ( entire capacity of 51 thousand b/d ) utilizing blending of onshore oil and offshore condensate and the deficit, chiefly Diesel was imported. Of the entire gas production, 95 % came from the offshore Yadana and Yetagun Fieldss while the staying 5 % came from onshore Fieldss. In FY2011, the domestic gas demand is about 400MMCFD and expected to increase to 700MMCFD by 2013. Gas is used for 10 gas power workss ( 60 % ) , fertiliser ( 12 % ) and tight natural gas ( CNG ) ( 10 % ) . About 2,093 stat mis of gas grapevine was constructed for onshore and 431 stat mis offshore in assorted diameters runing from 6 to 24 inches. The CNG and natural gas vehicle plan was initiated in 1986 to spread out the usage of domestically- produced natural gas and respond to climate alteration concerns and a entire of27,472 vehicles were converted and 44 refueling Stationss were constructed around the state in 2011.
Renewable energy. Myanmar has abundant renewable energy resources such as hydro, biomass, air current, solar and other types of renewable energy. Among these resources, hydropower is the lone renewable energy resource that is being exploited and utilized on a commercial graduated table, while other resources remain under research and development or pilot phase. Almost 66 % of the primary energy in Myanmar is being supplied in the signifier of biomass such as fuelwood, wood coal, agribusiness residue and carnal waste. Bioethanol is produced from sugar cane, molasses and starchy stuffs, and is used as transit fuel to replace for gasolene or to blend with gasolene. The authorities has launched the ambitious Jatropha Plantation Project in 2005 for biodiesel production taking 8 million estates ( achieved 5.2 million estates as of September 2011 ) . Due to low output from Jatropha seeds, existent biodiesel production is low. 26 micro- and 9 mini-hydro power undertakings were developed, with installed capacity runing from 24 kilowatts and 5,000 kilowatt, making distant boundary line countries. The usage of air current and solar energy is at its really initial phase.
Energy Efficiency. Energy efficiency and preservation plan is one of chief aims of the Myanmar Energy Policy. In line with ASEAN mark, the authorities aims to salvage 5 % of the entire energy primary energy ingestion in twelvemonth 2020 and 8 % for twelvemonth 2030 compared to the base twelvemonth 2005. MOE is the focal point for energy sector coordination. The Ministry of Industry is managing energy efficiency activities in Myanmar. There is no legal and regulative model for energy efficiency and no cardinal and dedicated organisation.