THE IMPACT OF ONE BELT ONE ROAD (OBOR) INITIATIVE ON MYANMAR
Keywords:China, Economy, Myanmar, Maritime Silk Road (MSR) Initiative, One Belt One Road (OBOR)
China’s One Belt One Road (OBOR) Initiative is a comprehensive economic interdependent relation which aims to increase regional connectivity and is an enhancement of its geopolitical interest for the benefits of herself, Asia, as well as in European states. Chinese and Myanmar government has invested a significant amount of investment in overcoming the energy technology deficiencies and cultivate the industry to a whole new level of self-reliance. Energy and manufacturing modernisation were made possible through constant cooperation between China and Myanmar. This paper is an attempt to analyze One Belt One Road Initiative and implication towards Myanmar. This paper h employed the qualitative method of analysis. The findings of this paper is Myanmar able to enhance its export earnings of the agriculture, fishery and aquaculture, increase countryside employment as well as reduce poverty. Seven advantages experienced by China and Myanmar through 21st MSR Initiative are (1) the modernisation of energy sector, (2) serve as a gateway between Indian Ocean and Bay of Bengal, (3) employment opportunities for the local people, (4) increase in manufacturing industries, (5) transfer of technology involving all joint venture industries, (6) exploitation of land for infrastructure and industrial development projects and lastly (7) improved Myanmar financial institution. With all the advantages, Myanmar and China need to maintain a strong political commitment for 21st MSR Initiative long term sustainability. There are certain areas such as structural and organisational integration, project management and institutional problems that may act as barriers. As such, these barriers are to be continuously reviewed to ensure smooth decision-making process, regulation, the flow of financial and protect geopolitical rights in Myanmar concerning 21st MSR Initiative.