Country Study: SMEs and access to green finance in Myanmar
Myanmar is an economy in transition. The country has gone through dramatic changes in recent years. From a closed economy operating in isolation, Myanmar has now opened its doors for foreign investment across sectors. Small and medium-sized enterprises (SMEs) account for 99% of all enterprises in the country.
With 70% of the total workforce in the country employed by SMEs, they play an important role in the socio-economic development of Myanmar. The SME Development Law of 2015 has re-defined the SME sector, which has led to the development of several committees to promote the development of SMEs. But till date, SMEs face multiple challenges on all fronts: weak infrastructure, lack of skilled manpower, cumbersome bureaucratic processes, and limited access to finance.
This study offers a review of the current landscape in terms of areas for improvement, existing opportunities and trends ahead.