Myanmar future market will become so much different compared with current conditions. Since 2010, Myanmar opens foreign investments. Although there are some international giants, Myanmar has many opportunities to explore. Last weeks, our country leader met with local business owners at Naypyidaw. The meeting is a stimulation of the market by the government. So, most local owners hope to see more activities in the future market.
In this article, we will discuss three opportunities for foreign investors.
Myanmar future market builds on Agri
Agriculture is Myanmar no.1 business sector. With continuous 676,578 km2 land, the country has largest continuous land area in ASEAN. Myanmar’s arable land area is 127,350 square kilometers. Although it is around 50% of Thailand’s arable area, Myanmar has many places to plow and sow later. Moreover, large rural labor force can support agriculture.
There is another interesting factor to invest in Myanmar agriculture sector. Myanmar has a very strategic location in ASEAN. It is an intersecting point for China, India and Thailand. Myanmar also has long coastal regions. This opens international trade to Europe, middle east Asia and Americas. That condition makes investors easy to trade. If one invests in farming sector, then he can transport from Myanmar to anywhere in the world by land or by sea.
More GDP with more products
Alongside with agriculture, manufacturing is also a very interesting industry. You don’t need to export after manufacturing. You can sell directly to local consumers. With low local competition, you can surpass your competitors easily. Most of the current local owners have obsolete technology and low investment. So, foreign investors can make partnership with local owners or they can start their own business adventures.
There are some arguments related with Myanmar economy. The country may have some drawbacks but it is moving forward with clear vision.
In 2000, Myanmar’s manufacturing sector is only 6% of its GDP. However, it increases to 22% of its GDP in 2016. This number will increase with increasing rate in the future. So, manufacturing is a growing industry in Myanmar.
Opportunities in Service Sector
We can’t remove service sector if we want to talk about Myanmar future. Healthcare, education, transportation and entertainment sectors are growing sectors currently. However, foreign investors need to discuss with local owners to understand every detail of each sector. Because each service sector is changing and transforming into new trends.
For example, in film industry, consumers are upset of most local films and want new tastes. New face actors and directors get more accolades than old and existing ones.
Education sector is also changing so fast. Now there are more than 30 private institutes for young generations. However, demand of international courses never drops. Young people wants more professional courses for their future. Consumer consumption increases more than last year and this is a sign of great opportunity in service sector.
In brief, Myanmar future market is very different from current one. It will more focus in manufacturing sector. It will also increase demand of professional services. Moreover, consumers want different tastes in film industry. Depending on your interest and budget, foreign investors should meet local experts to explore opportunities in Myanmar.
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