SEIZING OPPORTUNITIES IN MYANMAR
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1 SEIZING OPPORTUNITIES IN MYANMAR MATRADE Yangon 10 August
2 1.0 Economic Development Recent developments relaxation of export and import licence requirements; introduction of the Myanmar Investment Law and Competition Law; setting-up of a national trade portal; enrolling for the Extractive Industries Transparency Initiative (EITI); joining the Open Government Partnership (OGP); implementation of Health insurance; imminent establishment of the Yangon Stock Exchange; launching of the National Export Strategy (NES); deployment of mobile inspection teams at various check-points and border crossings; and awarding of licences for foreign banks to operate in Myanmar. 2
3 2.0 Why Myanmar Myanmar s strategic potential 52 Million 3
4 2.0 Why Myanmar Myanmar s Economic Potential 1. GDP Growth Potential to achieve USD200 billion+ GDP in 2030, over four times as high as today Average economic growth of 8.25 per cent over the next few years (IMF forecast) 2. Expansion of the Consumer Class Consumer spending potentially tripling from USD35 billion to USD100 billion in 2030 Consuming class of 19 million in 2030 from 2.5 million in Foreign companies coming in Influx of foreigners and factories, (Coca-Cola, GE, KFC, Colgate) Myanmar has garnered the interest as the last frontier market 4
5 2.0 Why Myanmar Myanmar s Economic Potential 4. Country is in dire need for infrastructure and human resources development Telecommunications, infrastructure, logistics, air networks, training and vocational skills needed Opportunities for Malaysian companies to share expertise and international experience 5. Reforms going in the right direction Government is making strides in improving transparency (Open Government Partnership) Going towards the ASEAN Economic Community and improving compliance with WTO Shifting from central state-owned economy to market oriented economy 5
6 Malaysia s Major Exports to Myanmar 2014 Total Exports 2014: USD million USD 285mil/35.4% Petroleum Products USD 164mil/20.4% Palm Oil USD 103mil/12.7% Chemicals & Chemical Products USD 36mil/4.4% Processed Food USD 36mil/4.4% Machinery, Appliances & Parts 6
7 Malaysia s Major Imports from Myanmar 2014 Total Imports 2014: USD million USD 47mil/28.3% Agricultural products USD 30mil/18.1% Crude natural rubber USD 22mil/13.2% Seafood, fresh, chilled or frozen USD 17mil/10.0% Sawn timber USD 15mil/8.9% Processed food 7
8 MALAYSIAN PRODUCTS IN MYANMAR
9 MALAYSIAN PRODUCTS IN MYANMAR
10 MALAYSIAN PRODUCTS IN MYANMAR
11 MALAYSIAN PRODUCTS IN MYANMAR
12 MALAYSIAN PRODUCTS IN MYANMAR
13 MALAYSIAN BRANDS IN MYANMAR
14 3.0 TOTAL INVESTMENTS INTO MYANMAR BY COUNTRY (AS OF 30 JUNE 2015) NO. COUNTRY AMOUNT (US$ MIL) PERCENTAGE (%) Total 56, China 14, Thailand 10, Singapore 10, Hong Kong 7, United Kingdom 4, Republic of Korea 3, Malaysia 1, The Netherlands India Viet Nam Source: Directorate of Investment and Company Administration (DICA), Myanmar 14
15 4.0 Investing in Myanmar Focal point is the Directorate of Investment and Company Administration (DICA) Promoted sectors Agriculture Mining Oil and gas Hotel and tourism Power / electricity generation Introduced Foreign Investment Law in 2012 to promote FDI 15
16 5.0 Business Opportunities in Myanmar Potential sectors Construction & Building Materials The construction sector is expected to expand at an annual rate of at least 8% over the next five years. The industry is valued at $3bn, with the residential segment accounting for half the sum. Power Myanmar s annual electricity consumption rate is expected to increase 13% per year, currently totalling 4,362 MW. Currently, only 30% of Myanmar s population have access to electricity with frequent power cuts. Human resources development Myanmar is facing a shortage of trained and capable labour in a range of industrial sectors that could undermine the nation s development prospects. The country s demand for skilled workers is expected to reach a level equal to almost half the population by Oil & Gas Myanmar has 7.8 trillion cubic feet of proven natural gas resources worth about USD75 billion waiting to be discovered. 20 offshore and 25 onshore blocks awarded 16
17 5.0 Business Opportunities in Myanmar Potential sectors Pharmaceuticals and Medical Devices The pharmaceutical and medical equipment market in Myanmar is expected to grow to USD800 million by 2020 Hotel & Tourism The tourism boom, which brought in a record number of 1 million tourists into Myanmar in 2012 has drawn interest from hotel owners to invest in the country. Other potential sectors Information & Communication Technology (ICT) Electrical & Electronic Products Medical tourism Fast Moving Consumer Goods (FMCG) Auto parts and accessories Processed food Franchise 17
18 6.0 Challenges Doing Business in Myanmar Weak legal framework Limited pool of skilled and talented workforce High land prices Foreigners not allowed to own land Foreigners not allowed to do trading Competition from border trade Funding and technical assistance is expected Inadequate infrastructure Small quantity orders 18
19 7.0 Strategies Doing Business in Myanmar Work with consolidators in Thailand and Singapore that has direct border access / shipping lines to increase market access. Work with local partners, distributors and agents B2B initiative between chambers and business associations of Malaysia and Myanmar (UMFCCI) for joint promotion activities Joint-venture to set-up manufacturing base in Myanmar as gateway into neighbouring markets and the EU (under GSP scheme) Leverage on Maybank s presence in Myanmar 19
20 8.0 ASEAN Economic Community AEC Is Myanmar prepared? Lack of awareness Trading restricted to local companies Economy just opened past 3 years Local industry is not ready 20
21 Trade in Goods (Rules of Origin) Number of Tariff Lines at 0% in the ATIGA Tariff Schedule of
22 Trade in Goods (Rules of Origin) Flexibility on seven % (7%) of tariff lines for CLMV 22
23 9.0 Business Customs & Practices Cash based transactions still the norm Focus on personal relationship Provide technical training and assistance, credit facility and promotion incentives Culture and traditions are strongly upheld 23
24 10.0 Do s and Don ts Doing Business in Myanmar Don t take yes to mean agreement or action Be realistic about your local partner(s) Get to know the local culture Get it down in writing The key to success preparation 24
25 11.0 MATRADE Trade Promotion Activities in Myanmar (2015) MATRADE Yangon is coordinating the following activities in 2015: Special Projects Business Visit to Yangon & Nay Pyi Taw (23-27 February 2015); Specialised Marketing Mission on Construction & Related Services (16-20 March 2015); Specialised Marketing Mission for Construction & Building Materials in-conjunction with BuildTech Myanmar 2015 (27-29 May 2015); Specialised Marketing Mission on Tourism, Hospitality and Culinary Services (2-5 June 2015); Specialised Marketing Mission on Oil & Gas Sector (25-28 August 2015); Specialised Marketing Mission on ICT (8-11 September 2015); and Malaysia Services Exhibition & Showcase Malaysia (30 Sept - 3 October 2015). Incoming buying missions to Malaysia (year round) 25
26 12.0 How MATRADE Yangon Can Assist Identify potential distributors, partners for joint ventures Arrange business meetings and conduct basic due diligence Advisory services as well as the dissemination of market information, market intelligence and industry reports Trade promotion activities (Specialised Marketing Missions, Showcase Malaysia / Malaysia Services Exhibition (MSE), Incoming Buying Missions) 26
27 Snapshot of Activities 27
28 Contact us MATRADE Yangon Embassy of Malaysia (Trade Section) 82, Pyidaungsu Yeikhta Road 11191, Dagon Township Yangon, Myanmar Tel : / 52 Fax : URL : yangon@matrade.gov.my 28
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