Driving Economic Growth: World Bank's Role in Promoting International Trade (

Malasiya , Myanmar and Sri Lanka)

Presented By :
Presented to :
Prof. Sripal Srivastava
The World Bank plays a crucial role in
promoting international trade to drive Introduction
economic growth. By providing financial and
technical assistance, the World Bank helps
countries build infrastructure, improve trade
policies, and enhance competitiveness in
global markets.
Trade Facilitation

Efficient trade facilitation is

essential for promoting
international trade. The World
Bank supports countries in
simplifying customs procedures,
improving logistics, and
enhancing connectivity to reduce
trade costs and boost economic
growth.
The World Bank assists countries in creating a
conducive environment for foreign direct Investment Promotion
investment (FDI) by improving regulatory
frameworks, promoting transparency, and
enhancing investment climate. This helps
attract FDI, stimulate economic growth, and
create jobs.
Growth
The World Bank's efforts in
promoting international trade are
vital for driving economic growth
and reducing poverty worldwide.
By facilitating trade, promoting
investment, and building
capacity, the World Bank plays a
crucial role in fostering global
economic development.
MALASIYA
For Malaysia, this fiscal year (FY23) has been one of recovery. In 2022, the
economy expanded well, driven by increased employment and a rebound in
domestic consumption .

The deliverables consist of the following:

(i) Building Malaysia's Goods and Services Tax (GST) Gap and Tax Expenditure
Model;
(ii) Providing MOF and the Royal Malaysian Customs Department (RMC) with
two user training workshops on Malaysia's GST Gap and Tax Expenditure Model;
(iii) A discussion note on reform considerations to improve Malaysia's
consumption tax framework;
(iv) Building Malaysia's Personal Income Tax (PIT) Policy Microsimulation
Model;
(v) Delivering a user training workshop to MOF on Malaysia's Personal Income
Tax Policy Microsimulation Model and IRB;
(vi) a discussion note outlining potential policy changes to improve Malaysia's
framework for personal income taxes; and
(vii) a policy analysis of taxes that support health care.
 MYANMAR

Myanmar has been making efforts to integrate into the global economy, fostering
trade and economic growth. Embracing market-oriented reforms and attracting
foreign investment are crucial steps. The exchange rate policy plays a vital role;
maintaining a stable currency can enhance investor confidence and promote trade.
Poverty reduction and development require comprehensive strategies. Investing in
education, healthcare, and infrastructure can uplift communities. International
cooperation and aid can further support Myanmar's development goals. It's essential
for the government to ensure inclusive policies that benefit all segments of society.
 SRI LANKA

The World Bank has been involved in supporting Sri Lanka's development
initiatives. It provides financial and technical assistance for various projects,
focusing on areas such as infrastructure, education, healthcare, and poverty
reduction. These projects aim to enhance economic growth and improve
living standards. For specific and up-to-date details on the World Bank's
involvement with Sri Lanka, it's recommended to check the latest reports or
official statements from both the World Bank and Sri Lankan government
sources.
CHALLENGES FACED BY WORLD BANK:
1. Complexity of Global Issues: Addressing multifaceted challenges like poverty, climate change, and conflict
requires comprehensive strategies and coordination.

2. Political and Geopolitical Considerations: The World Bank operates in a politically charged environment,
facing challenges related to governance, corruption, and geopolitical tensions.

3. Resource Constraints: The demand for development financing often exceeds available resources, limiting the
World Bank's capacity to address all pressing issues adequately.

4. Adaptation to Changing Economic Landscapes: Rapid changes in global economic dynamics require the World
Bank to continually adapt its strategies to remain effective.

5. Project Implementation Risks: Executing projects in diverse environments involves navigating regulatory
complexities, cultural differences, and potential unforeseen challenges.

6. Ensuring Inclusivity and Equity: Balancing development initiatives to benefit all segments of society and avoid
exacerbating inequality remains a persistent challenge.

7. Environmental and Social Sustainability: Striking a balance between development goals and environmental
and social sustainability poses ongoing challenges for the World.
 CONCLUSION
SRILANKA
Sri Lanka has carried out critical reforms since the start of the economic crisis. Staying the course on reforms while managing fiscal
risks is crucial to restore a sustainable growth path. Current efforts to mobilize tax revenue should be coupled with continued reforms
towards transparency of expenditures to build public confidence and to deliver better public services.

MALAYSIA

Malaysia’s response to the economic and financial crisis of 1997 was a set of unorthodox policy measures, highlighted by the use of
capital controls. This was complemented by institutional measures, some of which were temporary, such as the establishment of
organizations to restructure debt, while others were of a more long-term nature.

MAYANMAR

Global Economy: Myanmar's economy has faced various challenges, including political instability and the impact of the COVID-19
pandemic. The country has been working on economic reforms to attract foreign investment and promote economic growth.

Trade: Myanmar has been engaged in regional and international trade, with its key trading partners including China, Thailand, and India.