ABSTRACT: "Recognizing the need to formulate policy strategies for the changes it faces, Myanmar started a multifaceted reform process in 2011. But speeding up development requires a multipronged but more coherent strategy targeted at strong and resilient growth, employment generation and, ultimately, rapid reduction of poverty. The government needs to carefully prioritize and sequence reforms, and identify and address the constraints to allow acceleration of economic growth by expanding the large domestic market and developing a vibrant manufacturing export sector that can generate substantial employment. This paper briefly reviews Myanmar?s history and its legacy, examines the economy and some of the main policy reforms undertaken since 2011, assesses development potential, and outlines medium- and long-term growth strategy based on the country?s specific context and international best experiences and practices... Keywords: economic diversification, macroeconomic stability.....CONCLUSION: "Substantially accelerating Myanmar?s development will require a clear and multipronged development strategy. This should be targeted at strong and resilient growth, employment generation, and, ultimately, at the rapid reduction of pervasive poverty. Reform measures will need to be carefully prioritized and sequenced, and constraints to growth need to be identified and addressed to accelerate economic growth by expanding the large domestic market and developing a vibrant manufacturing export sector that can generate substantial employment. One of the key components of a successful strategy for growth is good governance backed by effective institutional, legal, and regulatory frameworks. Priority should be given to establishing these frameworks for the delivery of public services. The capacity of core policy-making institutions in Myanmar right now is limited and needs to be strengthened to make reforms effective and sustainable. Capacity building and the reform of public administration in the key policy decision-making bodies, which require a degree of independence and coordination mechanisms to facilitate cooperation among them, is crucial..."