Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Myanmar Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Myanmar is expected to contract by 3.7% in real terms in 2023, owing to weak investor and consumer confidence amid worsening power shortages, the depreciation of the domestic currency, western sanctions, supply chain disruptions, a deteriorating political environment, and the subsequent exit of international businesses from the country.
This is expected to weigh on revenue of the oil and gas sector, which is one of the country's largest sources of foreign revenue. Some of the companies which have ceased operations in Myanmar since the military coup include multinational oil majors Chevron, TotalEnergies, and Woodside Petroleum.
In January 2023, PTT Exploration and Production (PTTEP), a subsidiary of the state-owned Thai energy giant PTT, indefinitely postponed its MMK4.3 trillion ($2 billion) gas-to-power Kyaiklat project in Myanmar. This follows growing pressure on PTTEP from the human rights groups to cut financial ties with the military junta.
Political uncertainty is expected to worsen in the coming months, as the military junta dissolved 40 political parties, including the National League for Democracy (NLD) - which is the party of the ousted former leader Aung San Suu Kyi - after the parties failed to re-register under a new electoral law, ahead of the election that is planned in 2023. This raise concerns that the upcoming elections will lack credibility and will be used to legitimize further military control.
The industry is however expected to record an average annual growth rate of 6.5% from 2024 to 2027, supported by investment in electricity and transport infrastructure projects. Myanmar and China signed a memorandum of agreement (MOA), in March 2023, to implement three wind power projects in the Ann, Gwa and Thandwe townships in Rakhine State, with a combined capacity of 360MW.
Moreover, to attract foreign funds to the country's electricity sector, the military junta waived tax on investment in the sector in February 2023. It also reported that it will waive taxes for businesses related to electric vehicles (EVs).
Scope
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Myanmar, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/zbsivw
Source: GlobalData
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