By Zaw Oo
MYANMAR’S recent 7.7-magni-tude earthquake has inflicted extensive damage on infrastructure, businesses, and livelihoods, with thousands of micro, small, and medium-sized enterprises (MSMEs) directly affected. This week in Nay Pyi Taw, business leaders from earthquake-affected regions and sectors – alongside representatives from the financial sector, construction and engineering firms, quality control inspectors, and civil society organizations – are coming together with government officials and members of the diplomatic community for a multi-stakeholder dialogue. The focus is on forging public-private partnerships for effective reconstruction and long-term recovery. The forum is jointly organized by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the Myanmar Narrative Think Tank, two independent and non-political institutions committed to helping communities and the economy re-bound. A key goal of the gathering is to coordinate joint needs assessments across affected sectors and regions to prioritize the rebuilding of MSMEs — the backbone of Myanmar’s economy.
According to early estimates following two months of search, rescue, and emergency relief operations, the government has reported over 3,700 fatalities, the destruction of more than 67,000 homes, and severe disruption to central Myanmar’s logistics infrastructure. This ranks the earthquake as one of the most devastating natural disasters in the country’s history. In comparison, the 2015 floods, which caused significant agricultural damage, destroyed only half as many homes. Unlike previous disasters that primarily struck rural areas, this earthquake has hit urban centres, key logistics hubs, and administrative zones, amplifying its economic and strategic impact.
The scale of damage requires a collective national effort – both from communities and businesses and with critical support from the government. While many private actors are ready to rebuild, certain barriers remain that only the public sector can address. For instance, reconstruction in the housing market depends on updated building codes and effective regulatory enforcement to ensure future resilience. Although demand for housing is high and both financiers and builders are ready to act, progress cannot be made without an enabling policy framework.
This forum will bring all relevant stakeholders together to explore practical solutions, man-age risks, such as moral hazards or inefficient resource allocation, and ensure long-term sustainability. It will also identify opportunities for financial institutions and insurance providers to step into underserved markets, fostering innovation and stability in the recovery landscape.
Crises often bring with them opportunities. This forum will allow industry associations and regional chambers to propose public-private partnership (PPP) initiatives for economic rehabilitation. At the same time, it will examine how Myanmar can improve its resilience to geopolitical and geo-economic shocks while expanding its economic integration with the region and beyond.
Myanmar has a strong track record of recovery and reform. After Cyclone Nargis devastated the Ayeyawady Delta in 2008, killing nearly 200,000 people, Myanmar developed its first post-disaster recovery plan in partnership with ASEAN – opening the door to economic liberalization and institutional reform by 2010. In 2015, following devastating floods, the government collaborated with international financial institutions to conduct a Post-Disaster Needs Assessment (PDNA), unlocking a steady flow of development assistance for years to come. Even in 2020, when GDP dropped by 18 per cent due to the COVID-19 pandemic, Myanmar bounced back to positive growth within a year.
The agriculture sector, Myanmar’s traditional economic back-bone, continues to offer export potential, especially in rice, pulses, and maize. Here, Myanmar’s immediate neighbours — China, India, and Thailand — played critical roles as early responders, deploying search-and-rescue teams and delivering aid during the golden hours after the quake. Now, as the country transitions from relief to recovery, these partners have a chance to support longer-term economic development through trade and investment.
For example, China delivered aid through previously contested border trade routes, demonstrating the potential for these routes to support a more reliable flow of building materials and essential goods. At the same time, they could serve Myanmar’s agricultural exports, ensuring supply chains remain affordable and functional.
India and Thailand, key markets for Myanmar’s agricultural exports, can offer preferential trade arrangements to guarantee consistent demand for pulses and maize, giving affected farmers price stability and incentives to focus on high-yield crops. Moving away from annual quotas or seasonal restrictions would empower farmers to recover more quickly and plan for the long term.
This kind of regional integration should guide Myanmar’s recovery framework. It also serves the interests of neighbouring countries, especially in an era of global trade tensions and un-certain supply chains. Recent decisions by ASEAN leaders —and initiatives by Thailand and Malaysia to support Myanmar’s recovery planning— are welcome developments that this forum will seek to build upon.
One of the most meaningful moments of the forum will be a national vote of thanks from Myanmar’s people to the international community. China deployed the largest number of search-and-res-cue teams, with its 15th batch of donated supplies arriving just last week. Thailand sent the largest contingent of medical professionals, whose work complemented the US-based Samaritan’s Purse “hospital plane”. India contributed essential disaster expertise and engineering support. Even fellow least-developed country Nepal extended its support — sharing invaluable lessons from its 2015 earthquake experience.
In a deeply fragmented multipolar world, Myanmar has been fortunate to receive support from friends both near and far. As we shift from relief to rebuilding, this forum aims to chart a forward-looking agenda — one focused on recovery, resilience, and renewed partnerships for Myanmar’s economic future.
(Zaw Oo is a development economist and has contributed to Myanmar’s post-disaster recovery efforts in 2008 and 2015. The views expressed are his own.)