OECD highlights opportunities in Burma, urges reforms

The Organization for Economic Cooperation and Development (OECD), a forum of 34 countries which aims to address globalisation issues, released a new report on Burma on Wednesday, part of the group’s ongoing Multi-dimensional Review of Myanmar [Burma] project. Of the latest economic investigation, it says that “overall, the report finds that the need for reform is immense.” oecd_burma

A number of recommendations for essential progress were made. There were calls to make a structural transformation towards a more manufacturing and service-based economy, filling the skills gap and financing development.

The report spoke of opportunities in Burma, highlighting the scope for expansion and diversification in the agriculture sector but also acknowledging structural constraints. Only 2.5 percent of total government loans are made to the rural sector, despite the fact that it accounts for 30 percent of GDP and two-thirds of employment.

The report stressed meeting the needs of the labour market through reformation of education and skills policies and noted the skill-deficit and lack of employee training.

Read more: DVB

 

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