"In 2018, the clock kept ticking for economic reforms as businesses in Myanmar started to lose their cool. Foreign law firms pulled the plug, the liberalisation of insurance was delayed, restrictions for foreign investment lingered and business confidence plummeted. Above all, the ongoing Rakhine crisis, in the words of a business group, is “certainly one issue that hangs over Myanmar like a sword of Damocles.” Europeans complained that trade promotion abroad for the country had become “mission impossible”. These all painted a grim picture for the economy in the year. Yet, it would be wrong to say Myanmar saw no progress in 2018. Two landmark pieces of legislation – the Companies Law and Investment Law – were in force, spelling significant changes for the private sector. Meanwhile, the government scaled up anti-corruption efforts, empowering the anti-graft body, and changed its top economic team, creating a new ministry and appointing a new finance minister..."