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Myanmar could well be the ‘leapfrog’ nation
People here could go from having no banking – fewer than 10 per cent of people have an account
– to online banking. From no phone or internet connection straight to smartphones and Facebook. We can only imagine what these kinds of evolutionary jumps might mean for healthcare, for education and for retailing.
GDP is forecast by the World Bank to reach 7.8 per cent in 2016, and 8.5 per cent in 2017. By 2020, Myanmar is forecast to have a middle class comprising over 10 million people.
The potential here is clear, and brands seeing the early opportunity have been moving in. KFC, Coca-Cola and Ford are already here. Trading on the newly launched Yangon Stock Exchange is due to begin soon.
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