With a population of over 50 million people, Myanmar is slowly but surely developing into a market worth considering for businesses from all over the world.
Retail space such as malls and newer modern shopping centers are springing up as a result of the progress being made in the economy of the country and a trend towards a more urban population demographic.
Retail sales are generally split evenly between one third food , one third other necessities such as medicine, clothing and personal items with the remaining one third of spending at the retail level dedicated to discretionary or personal based purchases. Many economists are forecasting a tripling in retail spending in Myanmar by the year 2030. As a result, opportunities for business development activity in Myanmar are available for those with the determination, experience, and products to invest here.
Some things to consider:
- Economic as well as some basic political reforms have created significant openings for investment from outsiders.
- There is an emerging middle class that has sprung from these changes. This means that actual purchasing power within the population is on the upswing and expected to continue to grow.
- Many of the leaders into this market are internationally based food product manufacturers such as Nestle, Unilever, Proctor and Gamble.
If you are considering doing business, you may want to consider leveraging Thailand, Myanmar’s more developed and stable neighbour, as a staging area for getting your product into Myanmar safely, cost effectively, and with a minimum of risk and hassle.
Eagles Air & Sea has developed strong working relationships within the Myanmar government and customs bureaucracy that will enable you to move your goods from a staged warehouse in Bangkok for delivery as needed on short notice into Myanmar.
While much of the goods arriving into Myanmar from Thailand come into the country via land routes, it should be noted that the highway infrastructure is quite poor and can become relatively costly when compared to ocean based or air freight.
Eagles Air & Sea has well established air freight channels as well as offering ocean freight into the Yangon Port.
While customs clearance can be a challenge for goods entering Myanmar, Our Eagles team of experienced professionals are constantly reviewing the changing regulations and will work with you to ensure a minimum of delays whichever mode of transport your require. This can be vitally important with food products, especially perishables.
Labeling, proper licenses, ingredients, approval of FDA and other governmental agencies are all important issues that we can help you with. We can hold your goods at our bonded warehouses in Bangkok and deliver the quantities and content of goods in a timely fashion in the most cost effective method.
If Myanmar is on your radar, we invite you to contact “Your Logistics Partner” at Eagles Air & Sea Ltd., either by phone at +66 (02) 790 4599 or via email at firstname.lastname@example.org.
Frequent Asked Questions
Where are the ocean ports in Myanmar?
The main ocean port in Myanmar is the Port of Yangon. It is located on the central coast on the Yangon River near the Andaman Sea. There are a total of nine ports administered under the Myanmar Port authorities.
What currency is used in Myanmar?
In Myanmar, the Kayt is the official currency.
What Language is used in Myanmar?
The official language in Myanmar is Burmese. This language is used by many of the tribes in upcountry Myanmar as a second language in lieu of their tribal languages. During colonial times, English was the official language but is used sporadically today.