Friday, 9 November 2012

Myanmar, the last frontier?

Forbes reports on what some international investors believe to be "a great opportunity for investment and growth" in Myanmar.  The article has some useful statistics on the country's labour force:
The country has a labor force of 31.68 million, out of a population of 60 million. Unfortunately it’s unskilled with 70% employed in agriculture. Only 7% work in industry. While a low wage structure may attract manufacturers, the lack of skilled workers will limit scope to basic products. The country’s human capital is a key component to future growth. 25% of the population is below working age, and only 7.7% over the age of 65, this compares to China with 20% and 11.5% respectively. However “the country is the only developing Asian country with a defense budget greater than the education and health budgets combined.” [Asian Development Bank report] The government spends less that 2.0% of GDP on education and health.

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