Entrepreneurship and SME Development Policy In a Least Developed Country: Lessons from Myanmar

Lee Keng Ng
Curtin University, Sarawak, Malaysia
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Balbir Bhasin
University of Arkansas Fort Smith, USA
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Jim Beard
University of Arkansas Fort Smith, USA
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Abstract

Myanmar is on the United Nations’ list of 48 least developed countries (LDC) with over 70% of the population living in rural areas and dependent on agriculture. The country direly needs to develop its small and medium sized enterprises (SMEs) which is the key engine for economic development and poverty eradication (UNCTAD, 2015). As a country richly endowed with natural resources, it is plagued by the ‘resource curse’ thesis. This paper evaluates the strategy and policy that needs to be in place for Myanmar to succeed in private sector development with particular emphasis on creating the environment for stimulating economic activities particularly towards privatization and development of SMEs in order to be fully integrated into the ASEAN Economic Community (AEC).

Keywords: globalization, development, policy, entrepreneurship, Myanmar

JEL codes: L60, L53, L25, L26

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