Businesses from around the world are being drawn to Myanmar
Businesses from around the world are being drawn to Myanmar, as the country races to catch up after decades of economic isolation. There is a huge and growing demand for construction materials, investment and technical know-how.
Bangkok Bank has been operating in Myanmar for 20 years. In June 2015 we became the only Thai bank with a branch
in Myanmar, and one of only nine banks worldwide with a foreign banking license. We know the country well and have developed a solid network of contacts and knowledge of local conditions. Our investment advisory service helps customers who would like to register their companies in Myanmar and do business there.
Myanmar enjoys abundant natural resources, a strategic location at the crossroads of Asia, and a large, youthful population. Major infrastructure spending on roads, bridges, airports and seaports is fueling the construction sector while manufacturing industries such as garments, footwear and seafood processing are in line to benefit from the expected relaxation of US investment restrictions.
After decades of neglect, basic infrastructure is lacking which poses particular challenges for energy-intensive manufacturing industries. Electricity and land prices are high, internet access is limited, and low skill levels and expertise mean investors must have a solid training setup.
Tips for investing and doing business
Investors must spend time and resources doing their homework – studying the drivers of supply and demand, other players in the market, and regulations that will affect their operations. They also need to analyse the nature of similar projects they may have worked on and decide what will translate well to Myanmar.
Note: Information update as at February 2016