A New Approach to Burma’s Private Sector

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Myanmar/Burma

Experts

July 2012 | Olive Branch Post by Raymond Gilpin

July 25, 2012

If Burma’s recent political reforms are to continue, they must be underpinned by “tangible, equitable and sustained economic progress,” writes USIP’s Raymond Gilpin in a new blog post on the International Network for Economics and Conflict (INEC).

In 2009, the U.S. Secretary of State Hillary Clinton announced that the U.S. would pursue a strategy of “pragmatic engagement” with Burma. According to Gilpin, “pragmatic engagement essentially means that the Burmese political system may not be where we would like it to be, but we are willing to work with what we have got. This does not suggest acceptance of regime excesses, institutional failings or governance weaknesses. Rather, it is a recognition that recent steps towards political reform could augur well for the opening of political space and the institutionalization of political will for much-needed change.“

Burma’s economy – which is expected to grow by over 6 percent annually for the rest of this decade – could be boosted by a similar “pragmatic engagement” approach to the country’s private sector. Read Gilpin’s full blog post to see how this approach could reward entrepreneurship, gradually dismantle the narco-economy, and encourage other positive reforms.