Market Research Report
Construction in Myanmar - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||661502|
|Published||Content info||41 Pages
Delivery time: 1-2 business days
|Construction in Myanmar - Key Trends and Opportunities to 2024|
|Published: November 2, 2020||Content info: 41 Pages||
Prior to the outbreak of Coronavirus (COVID-19), Myanmar's construction industry was expected to grow by 9.1% in 2020. Due to the stringent measures taken by the government, however, with strict lockdowns and travel restrictions to contain the spread of the virus, construction activities were disrupted across the country. As a result, GlobalData now expects construction output to register a growth of 3.7% in 2020.
In the short term, the industry will continue to be affected by the disruptions caused by the containment measures, but investment in new construction projects by the government will help in recovering from the crisis. The industry is expected to recover in 2021, with output expected to expand by 9.1% in real terms that year. The government is focusing on transport infrastructure, coupled with efforts to boost energy production, with an aim to revive the country's economy. According to the Asian Development Bank, MMK182.9 trillion (US$120 billion) in investment will be required until 2030 to bridge the country's infrastructure gap. Furthermore, the government is investing in improving electricity generation capacity, with an aim to achieve nationwide electrification by 2030.
Myanmar has a poorly developed healthcare system, and to support the healthcare sector during the pandemic, the government has been receiving funding from international lenders. In April 2020, the World Bank approved a loan of MMK79.3 billion (US$50 million) to the Myanmar government to help fight against COVID-19 infections. Additionally, in October 2020, the Asian Development Bank (ADB) approved a loan of MMK47.6 billion (US$30 million) towards the sector to improve healthcare facilities. The government has been ineffective in containing the spread of COVID-19, which has worsened since August, prompting renewed local lockdowns in major cities.
This report provides detailed market analysis, information, and insights into Myanmar's construction industry, including -
This report provides a comprehensive analysis of the construction industry in Myanmar. It provides -