"Myanmar’s efforts to reverse a legacy of isolation began with the quasi-civilian government led by then-president U Thein Sein. From 2011–2015, his government undertook a series of political, economic and social reforms that built the foundation for future democratic development. Key reform initiatives under his administration included renewed engagement with ethnic armed forces, a relaxation of press censorship, liberalisation of the telecommunications sector, increased autonomy of the Central Bank of Myanmar and improvement of the budgetary and taxation system. The government also attempted to improve private sector development by reducing red tape to ease business costs and attract foreign investment. During U Thein Sein’s presidential term, Myanmar became one of the fastest growing economies in ASEAN, with an average growth rate of 7.3 per cent. The country also achieved the Human Development Index’s medium-ranked member status. Major challenges remain despite these positive developments: land disputes, informal settlements in cities, inadequate basic infrastructure and most importantly an unstable political situation due to conflict in Rakhine, Shan and Kachin states. The political landscape of Myanmar changed dramatically after the second general election in 2015 when Daw Aung San Suu Kyi’s National League for Democracy (NLD) won a majority of seats in the people’s parliament, national parliaments and sub-national parliaments. The new government was immediately confronted by existing and new challenges. A few months before the elections, 12 out of 14 regions and states were affected by flooding that damaged 1.9 million acres of farmland causing the price of rice to increase. A 20 per cent drop in net inflow of FDI and a growth rate sinking to 5.9 per cent (from the average 7.3 per cent growth rate of president U Thein Sein’s administration) also made 2016 a difficult year for the new government..."