Executive Summary: "...This handbook reveals that the current institutional and regulatory environment in Myanmar continues to limit the potential of the country?s private sector. Regulations regarding starting and running a business in Myanmar make the process lengthy and costly, while the lack of institutional capability of law enforcement creates legal uncertainty. Thus, cutting the ?red tape” and building institutional capacity are crucial for enhancing the business environment. Improving the tax system and the country?s financial sector as well as introducing mechanisms to eradicate corruption are also indispensable to facilitate private sector activity. In addition, business success strongly depends not only on the regulations in place but also on private sector competitiveness. Overcoming deficiencies in human and physical capital, encouraging the adoption of new technologies and making business development services widely available are key reforms to enhance the competitiveness of the private sector. Furthermore, considering the extent to which small and medium-sized enterprises (SMEs) contribute to Myanmar?s economy (99.4 per cent of registered enterprises are of this category), 2 private sector development requires additional provisions for SMEs? specific needs regarding access to finance, markets, and inputs. On the other hand, supporting large companies through a sound corporate governance framework is also important. In this handbook, it is also explained that if the business environment in Myanmar was enhanced, it could accelerate investment flows in Myanmar, which in turn could further support private sector development, particularly by rendering local firms more competitive. For that purpose, the Government should continue to enhance the business environment and transparent information flows on rules and regulations; guarantee secure private ownership and intellectual property rights; eliminate dual application of investment vii laws; and accept investment dispute settlement through a competent, independent and impartial judicial system. These reforms, coupled with investment promotion measures, should be effective in attracting more foreign investors in years to come..."