Research obstacles in Myanmar are a big concern for businesses and potential investors interested in entering this country. Because this country has more challenges than most Southeast Asian countries, it is necessary to gain Myanmar market insight.
By gaining insight, you can anticipate these various challenges and find solutions so you can still enter the Myanmar market. Therefore, in this article, we have summarized several explanations regarding the challenges and solutions for conducting research in Myanmar.
Market Research Challenges in Myanmar
Myanmar is a country in Southeast Asia that has quite a lot of market obstacles and challenges. This makes business people and potential investors spend extra effort penetrating the market because accurate financial and market data is difficult to obtain.
Road infrastructure in this country still needs to be improved because the percentage of paved roads is less than 40%. In this way, public and business access becomes hampered and disrupts the country’s economy. [1]
Several other challenges are:
- The quality of trained and educated human resources needs to be improved.
- Supply chain disruptions.
- Electricity shortages.
- Restrictions due to the military regime.
Of all the challenges in carrying out various data collection methods, several crucial things cause them, namely:
1. 2021 Coup
In 2021, Myanmar shocked the world news because of a coup by the military against the government. Together with COVID-19, this coup is disrupting Myanmar’s economy.
Restrictions on internet connectivity in conflict areas by the military also cause market research to be hampered, especially using online methods, such as surveys.
These restrictions on internet use ultimately prevent people and businesses from transferring mobile banking transactions abroad. Another effect that disrupts the business world and its research is the rule regarding power outages of up to 20 hours daily.
2. Risk to the Country’s Reputation
Myanmar’s poor reputation after the military coup also indirectly affected investment and business interests, so few people conducted market research.
Moreover, this country’s reputation has previously been less than good since the military attack on the Rohingya ethnic group in this country. With these two big triggers, there are more and more obstacles that local and foreign businesses and investors face.
Solutions and Opportunities
Even though the situation in this country is still not very promising, that does not mean there is no hope.
The proof is that the United States has started to help start the entry of various responsible investments into this country. Where several local sectors can be exported, such as health, education, consumer products, and agriculture. Because of this, it will become easier for you to enter market research and Myanmar market insight to determine business and investment policies.
