Yangon, Myanmar, May 7, 2018
—IFC, a member of the World Bank Group, today launched a partnership with Yangon City Development Committee
(YCDC) to create a business and investor-friendly environment in Myanmar by reforming Yangon’s construction permit system. The aim is to support the country’s business regulatory and legal reforms, thus strengthening the role of the private sector.
Myanmar’s construction sector, according to a recent World Bank study, accounts for around 5 percent of the workforce — with about one million workers — and has the highest earning potential, compared to other sectors. Apart from creating jobs, the sector supports the development of vital infrastructure projects and other industries, such as manufacturing and tourism.
‘Dealing with Construction Permit’ is one of the 10 indicators measured by the World Bank Group’s Doing Business report, which analyzes the ease of doing business in 190 economies worldwide. Currently, Myanmar ranks 73 in terms of dealing with construction permits with room for further improvement.
“The goal of this partnership with IFC is to streamline and automate Yangon’s construction permit process by June 2019. This will allow us to reduce paperwork and complete applications on time. It will also help builders and investors execute projects efficiently,” said Daw Hlaing Maw Oo, YCDC’s Secretary.
Going ahead, in partnership with Australia, the United Kingdom and Japan, IFC will support YCDC to reform Yangon’s current construction permit system, by proposing and implementing a streamlined risk-based process, among others. While supporting YCDC with capacity building exercises, IFC will keep engaging with end-users to ensure a customized system that addresses the needs of Yangon’s construction sector.
“An efficient, transparent, and affordable permit system can lead to a healthy, competitive and sustainable construction sector,” said Vikram Kumar, IFC Country Manager for Myanmar. “With its vast experience in reforming construction permit systems globally, IFC is well-positioned to help Yangon draw property investors by establishing a streamlined process. The reform will reduce administrative bottlenecks and increase Myanmar’s management capacity, thus promoting sustainable private sector development and creating jobs. We expect Myanmar’s ‘Dealing with Construction Permit’ ranking in the Doing Business report to improve once the reform is fully implemented.”
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit