Burma Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in burma, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Investment Climate Statement
Last published date:

The U.S. Department of State’s Investment Climate Statements help U.S. companies make informed business decisions by providing up-to-date information on the investment climates of more than 170 countries and economies. They are prepared by our embassies and consulates around the world and analyze each economy’s openness to foreign investment. Topics include:

•    Openness to, and Restrictions upon, Foreign Investment, 
•    Investment and Taxation Treaties,
•    Legal Regime,
•    Industrial Policies,
•    Protection of Property Rights,
•    Financial Sector,
•    State-owned Enterprises,
•    Corruption,
•    Labor Policies and Practices,
•    Political and Security Environment, and
•    U.S. International Development Finance Corporation (DFC) and Other Investment Insurance or Development Finance Programs

Each statement provides a starting point for U.S. firms and offers a point of contact at the relevant U.S. embassy or consulate abroad.

These reports are also a resource for foreign governments to create business environments that ensure fair treatment for the United States and our companies and investors. 

To access the full Investment Climate Statement, visit the U.S. Department of State Investment Climate Statements website.

Executive Summary - Burma

On February 1, 2021, the military of Burma (also called Myanmar) seized power in a coup d’état that reversed the economic progress of the previous decade. The military’s seizure of power from a democratically elected government prompted widespread, increasingly violent opposition across the country, causing a sharp deterioration in the investment climate. From 2020-2024, Burma’s real GDP shrank by over 20 percent. Ongoing nationwide conflict and economic mismanagement have significantly reduced Burma’s commercial activity.

The ruling military regime’s onerous import licensing and foreign currency conversion rules limit companies’ ability to import intermediate goods for local production or repatriate profits from exports, overseas sales, and asset liquidations. The Central Bank of Myanmar (CBM) imposed foreign exchange restrictions that limited private sector access to U.S. dollars, which has further constrained commercial activity. In 2023, the CBM legalized trade with neighboring countries utilizing Chinese RMB, Thai baht, and Indian rupees, easing the demand for U.S. dollars for some commodities. Frequent power outages and the resulting reliance on generators have significantly raised in-country business costs. Infrequent suspensions of internet and other telecommunications restrict access to information and hinder business operations, especially those companies reliant on telecommunications and Internet Service Providers in conflict-affected areas such as Rakhine, Chin, and Kachin States. Since the February 2021 military coup, many foreign companies suspended operations, invoked force majeure to exit investments, and evacuated foreign national staff, though some foreign companies have maintained their presence.

The rule of law is increasingly challenged in Burma as the regime uses the judicial system for political repression. Regime security forces engage in random violence, disproportionally responding to those perceived as resisting the regime and arbitrarily detaining critics, activists, and opponents, including labor organizers and journalists. There is also the potential for the regime and other armed actors to expropriate property and nationalize private companies. Foreign firms invested in the Burma market face a heightened reputational risk.

In response to the coup, the U.S. government imposed targeted sanctions, including:
•    on members of the regime’s ruling State Administration Council (SAC)
•    ministers
•    and some state-owned enterprises
•    designated individuals
•    and businesses that support the regime.

The United States has also suspended the Trade and Investment Framework Agreement with Burma and instituted more stringent export controls. The U.S. Department of Commerce’s Bureau of Industry and Security added Burma’s Ministry of Transport and Communications (MoTC) to its Entity List on March 6, 2023, limiting equipment, software, and service sales by U.S. companies to MoTC without an export license. Similarly, on January 6, the U.S. Department of Commerce’s Bureau of Industry and Security imposed restrictions on Telecom International Myanmar Company Limited (MyTel). In its 2022 Business Advisory and the 2024 Supplemental Business Advisory for Burma, the United States government reaffirmed that it does not seek to curtail legitimate business and responsible investment in Burma. Nevertheless, investors should conduct enhanced due diligence and exercise caution when assessing potential reputational and regulatory risks, especially regarding investment in sectors involving:
•    rare earth elements,
•    base metals,
•    gold mining and gems,
•    timber,
•    aviation services and components,
•    aviation fuel, and
•    financial services.

Regime-affiliated cronies control large swaths of the economy, including much of sectors involving:
•    refined fuels,
•    timber,
•    gems,
•    banking, and
•    aviation.

View the Burma Investment Climate Statement.

 

 

 

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