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Myanmar’s ongoing battle to reignite the economy and protect the environment

The country gradually learns that they don’t have to choose their economy over Mother Nature

Overhead view of Mandalay City, Myanmar. TonyWuStudio/Shutterstock

Since Myanmar went through a series of politicaleconomic and administrative reforms in 2016, a movement to improve the local economy has been a crucial matter for the country, according to the study published by May Lwin and Kriengsak Panuwatwanich titled Current Situation and Development of Green Building Rating System in Myanmar.

The real estate industry has been the economy’s primary driving force even before the reformation, particularly because of foreign and domestic investments, as well as the job opportunities the sector provides. 

Yet despite all of the sector’s contributions to the country, it comes with its own drawbacks. For instance, construction consumes a lot of electricity, which takes up most of the energy output of the entire country. Moreover, waste and pollution are unavoidable in the process to achieve economic growth. 

More: If green buildings are crucial to addressing climate change, why aren’t we seeing more of them?

The only way to reap all the benefits without having to face these underlying consequences is to embrace green building developments, which the Green Building Committee of the Building Engineering Institute has been promoting for a few years now. They have even created a guideline for the construction industry to ensure that they meet “the green building criteria and the basic requirements for energy-efficient building design in the country.”   

Though green developments are still at the initial stage in Myanmar, we are seeing more developers who have taken Mother Nature into consideration, hoping that others will follow suit. 

Wa Ale is among these eco-conscious developers who are paving the way for such projects to gradually thrive in the country, which is why they notably won the Special Recognition in Sustainable Development at the 5th PropertyGuru Myanmar Property Awards 2019. 

If you know of any development projects in Myanmar that deserve to be named as the best in their categories, nominate them for the 6th PropertyGuru Myanmar Property Awards, in partnership with Shwe Property on or before 21 August 2020. For more details, visit asiapropertyawards.com/en/award/myanmar-property-awards.

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