High Potential Market
There was barely manufacturing industry in Myanmar before they opened for the economy. For the past few years, manufacturing industry is growing fast, especially the foreign investment. In the end of 2015, foreign investment in manufacturing industry has strongly grown from 5% to 17.4%. It is expected to bring more business opportunities for machines.
New Business Opportunity
Myanmar government is partly releasing the restriction on foreign investment in automotive industry. Some global brands such as Hyundai, Daewoo and Mitsubishi are allowed to establish automobile factories in Myanmar. It presents that the demand of machines will upgrade to next level for advanced machines.
The top rising star in ASEAN
With GDP growth rates that are threatening to overtake China’s, and a youthful, growing and increasingly educated population, the allure of the ASEAN markets is obvious. Emerging markets in ASEAN are expected to see high growth this year. Myanmar tops the list, projected by the International Monetary Fund (IMF) to grow 8.4 per cent in 2016.
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