Sunday, Oct 26, 2014Sunday, Oct 26, 2014
 

Corruption the biggest concern for Myanmar businesses: survey

Published on May 6, 2014 7:43 PM
 
Commuters pass along a busy street in Yangon on March 3, 2014. Corruption is the top concern for businesses in Myanmar, which is undergoing liberal reforms after the end of military rule, according to a UN-led survey released on Tuesday. -- FILE PHOTO: AFP

YANGON (REUTERS) - Corruption is the top concern for businesses in Myanmar, which is undergoing liberal reforms after the end of military rule, according to a UN-led survey released on Tuesday.

Five decades of military rule left Myanmar mired in poverty and plagued by corruption, but a quasi-civilian government that took power in 2011 has enacted sweeping political and economic reforms aimed at attracting foreign investment and cleaning up the economy.

However, the survey suggests the reforms have thus far had only a limited impact on corruption.

About 20 per cent of the more than 3,000 firms questioned identified corruption as a "very severe obstacle" to their operations, according to the survey from the United Nations, the Organisation for Economic Co-operation and Development and the Union of Myanmar Federation of Chambers of Commerce and Industry (Umfcci).

 
If you are not a subscriber, you can get instant, unlimited access here

Videos