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After 3 years of historic reforms, Myanmar has entered a pivotal stage in its socioeconomic development. Natural, cultural, and demographic advantages are positioning the country for long-term success, but many challenges and potential pitfalls lie ahead. This publication examines how to leverage the opportunities and offers solutions to the challenges. For Myanmar to achieve its economic transition, considerable investments will have to be made in...
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Thailand's economic and social transformation of the last 50 years has placed it in the ranks of upper middle-income countries and made it an integral part of global value chains. It has also established itself as a regional hub for key transport and logistics, with a world-class airport. To continue its rise, Thailand needs to move into the higher-value segments of economic activity and create high-quality jobs that are regionally broader based....
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From 2010 onward, Fiji witnessed one of its strongest spells of economic growth since independence. Extreme poverty is in the single digits, but nearly a third of the population is unable to meet basic needs. Fiji thus faces two major challenges: to create a business environment that can attract more private investment to help sustain its growth momentum, and to make that growth inclusive so that all of Fiji can benefit. This country diagnostic study...
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Uzbekistan has achieved sustained growth through its gradual transition to a market-based economy through cautious economic policy reforms. Despite its gradual approach to development challenges, the country experienced the smallest output decline among former Soviet economies and enjoyed high rates of economic growth from 2004 to 2015, largely driven by the high prices of its major export commodities. However, the drop in the global prices of many...
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The Lao People's Democratic Republic (Lao PDR) has shown remarkable progress by consistently building itself into a market-oriented economy, with economic growth in 1986-2016 averaging around 6. 5% per annum. The rapid and sustained growth brought about changes in the structure of output, but did not alter job composition: resource-based products still dominate in industry, low value-added jobs in services, and 65% of the labor force in agriculture....
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