"But the Myanmar government also took progressive measures to boost the economy. It led further liberalisation in various sectors of the economy and took steps to address the country’s power shortage. It also announced new tax reductions and reliefs aimed at boosting state coffers and economic activity, garnering applause from the business community. During the year, the government took efforts to attract FDI in spite of the ongoing Rakhine crisis and lawsuit filed against Myanmar in the International Court of Justice by Gambia, which tarnished the country’s image as an investment destination. Among them were a string of investment forums held in the states and regions, which were aimed at drawing investors to rural areas like Rakhine and Chin. Here are the top ten events in business and investments that shaped the Myanmar economy in 2019: 1. Insurance sector liberalised Five insurance firms – British Prudential, Japanese Dai-ichi Life, Hong Kong AIA, US Chubb and Canadian Manulife – finally received licenses to operate in Myanmar in late November after a two-year delay. In addition, six insurance JVs of foreign and local firms also received the green light. The three JVs for non-life insurance are AYA Myanmar General Insurance and Sompo Japan Nipponkoa Insurance; Grand Guardian General Insurance and Tokio Marine & Nichido Fire Insurance; and IKBZ Insurance and Mitsui Sumitomo Insurance..."