Logo of Phnom Penh Post newspaper Phnom Penh Post - Makro hosts networking event in Myanmar, plans Yangon branch next year

Makro hosts networking event in Myanmar, plans Yangon branch next year

Makro hosts networking event in Myanmar, plans Yangon branch next year

In support of sustainable economic growth in Asean, Bangkok-headquartered Siam Makro Pcl (Makro) recently teamed up with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) in hosting “Business Networking with Makro”, aimed at establishing connections between businessmen and local retailers.

The event on Thursday provided a stage for several Makro executives to share their business visions, highlighting the importance of food safety and local community. The company also planned to open up branches in Yangon in the first quarter of next year.

Makro chief corporate communications officer Siriporn Dechsingha said Myanmar is one of the top tourist destinations in Southeast Asia and the country’s economic growth has remained strong, attracting foreign investors.

As Makro started to turn its focus to overseas markets and has planned to open branches in Myanmar, the company has consistently conducted market researches and studies on local consumer behaviour.

The event, held at the UMFCCI, was a demonstration of Makro’s commitment to become an economic partner, develop businesses, and bring about sustainable growth for both the company and the local community.

Siriporn said: “The first Makro branch in Myanmar will be located in central Yangon which has been enjoying significant growth due to many positive factors such as the Asean trade agreement, Myanmar’s investment promotion policy, major foreign investment, and rich natural resources.

“As a result, Myanmar has become very attractive to tourists and investors from all over the world. It provides a great opportunity for SMEs [small and medium-sized enterprises] in Myanmar.

“For Makro, we also need to consider the sustainability factor and continue working on CSR activities. Our first branch in Yangon is expected to open by the first quarter of 2020,” she said.

Myanmar’s economy is one of the fastest-growing in Asia. The World Bank has said the country’s economic growth is expected to reach 6.6 per cent by 2020-2021 due to an increase in foreign and domestic investment and the recent economic reform.

Following the reform, the government has implemented policy measures to encourage foreign investment and support businesses that operate with social and environmental responsibility, it said.

Currently, Makro has a total of 133 branches in Thailand and six branches overseas – two in Cambodia, three in India and one in China.

THE NATION (THAILAND)/ASIA NEWS NETWORK

MOST VIEWED

  • Kingdom's Covid cluster cases jump to 194

    The Ministry of Health on February 25 confirmed 65 new cases of Covid-19, with 58 linked to the February 20 community transmission. The latest cluster cases include nine Vietnamese nationals, five Cambodians, one each from Korea, Singapore and Japan, with the rest being Chinese. This brings the total number

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • Cambodia's Covid cluster cases rise to 137

    The Ministry of Health on February 24 recorded 40 more cases of Covid-19, with 38 linked to the February 20 community transmission. Of the 40, two are imported cases involving Chinese passengers. The 38 include two Vietnamese nationals and one Cambodian, with the rest being Chinese. This brings the total cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • AstraZeneca jabs touch down in Phnom Penh airport

    The first shipment of 324,000 doses of the AstraZeneca/SII vaccine which was provided through the Covid-19 Vaccines Global Access (COVAX) Facility was delivered to Phnom Penh International Airport on March 2. The rest of the COVAX provided vaccines will arrive in Cambodia at a later date.

  • Preah Sihanouk hit with travel ban

    Preah Sihanouk Provincial Administration has announced a temporary travel ban to and from the province, except for ambulances and trucks transporting goods. The announcement came after prime minister Hun Sen called on people in the province to travel only if necessary, and that people not