Distinction in travel journalism
Is independent travel journalism important to you?
Click here to keep it independent

19 Feb, 2015

ADB Publishes Myanmar Business Plan 2015-17, Plans Minimum US$463m in Funding

Bangkok – The Asian Development Bank has published its Country Operations Business Plan for Myanmar covering the period 2015-2017.  The indicative allocation for Myanmar amounts to $463 million but could go up to $680 million if cofinancing and funding from other sources is included.

The key economic sectors targeted are Energy, Transport, Agriculture, Natural Resources, and Rural Development, Education, Water and Urban Infrastructure Development and Services. All of these projects will contribute to an enhanced doing-business environment for the travel & tourism industry.

The report cites the following Myanmar Country Development Goals:

1. Average annual GDP growth rate of 7.7% up to 2015.

2. Growth of the industrial share of GDP from 26% to 32% by 2015, along with an increase in the service sector.

3. Growth in per capita GDP of 30%–40% by 2015 from the base year of 2010.

4. Graduating from LDC status and moving to a knowledge-based economy by 2020.

5. Achievement of MDGs and other human development objectives by 2015.

6. Full economic integration with ASEAN in accordance with ASEAN Economic Community 2015 schedules.

The transportation projects to be funded which are of direct benefit to travel & tourism include GMS East–West Economic Corridor Eindu to Kawkareik Road Improvement ($100 million) and Maubin–Phyapon Road Rehabilitation Project ($80 million).

A key target outcome is to ensure that 100% of rural population has access to an all-weather road by 2030, from 20% in 2010.

The report notes that the Myanmar government is now preparing the National Transport Development Plan to bring together the relevant line agencies and promote an efficient, modern, safe, environmentally friendly, and coordinated transport system, covering all major transport modes.

It calls for a corridor-based transport infrastructure development approach (geographical concentration of infrastructure) to increase competiveness along focal corridors, exploit existing and future development potential, and meet transport demand.

The plan’s proposals focus on key demand corridors, notably a central corridor (Yangon–Mandalay), an east–west corridor (Myawaddy–Yangon) and a northern corridor (Mandalay–Muse). The initial focus is on improving the infrastructure along the main corridors, followed by a more balanced investment program across the country.

In addition, the report says, ongoing discussions deal with the privatization of several state economic enterprises that operate in the transport sector.

An allocation of US$1.5 million is identified for preparing the GMS Tourism Infrastructure for Inclusive Growth II Project.

The full Operations Business Plan can be downloaded by clicking here.