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EuroCham Myanmar published its 13th edition of the Business Confidence Survey

EuroCham Myanmar published its 13th edition of the Business Confidence Survey this week. In an ongoing effort to monitor business sentiments and the operational environment regularly, this survey captures the perceptions of European businesses, current challenges, and the impact of recent events on the business community in February 2024.

As indicated by 60% of the businesses, there is an increased number of companies facing Regulatory Challenges, particularly regarding import license issues, compared with the previous survey rounds in which banking issues were the top concern. The survey was conducted during the announcement of the activation of the People Military Service Law, and some of the responses can be attributed to confusion around the implementation of this new regulation. In February, banking issues persisted as the second most pressing concern, expressed by 58% of the businesses; over half were facing difficulties and losses due to discrepancies between the Central Bank of Myanmar (CBM) reference and market rates.

Regarding the future outlook over the upcoming six months, over three-quarters of businesses surveyed have affirmed their commitment to continuing their presence in Myanmar despite the uncertainties and challenges in the country. Meanwhile, some businesses are currently evaluating the situation before making the decision to continue.

This 13th survey is available for EuroCham Myanmar members only; for more detailed information, please contact business.development@eurocham-myanmar.org.