Consumer business in Myanmar has been saved
Consumer business in Myanmar
A land of gold
Myanmar is a nation that is rich in resources. Yet it remains one of the poorest nations amongst the Association of Southeast Asian Nations (ASEAN) countries due to its political turmoil and economic isolation. The country suffers from an acute shortage of electricity, ageing transportation networks and inadequate telecommunications infrastructure, which makes trade difficult in the country. Nevertheless, with the new foreign investment law introduced in November 2012, Myanmar has shown a commitment to opening up the market and creating an environment that is more attractive for foreign firms.
In recent times, some consumer business companies have begun their foray into the Myanmar market and a number of international retailers are entering the country using the convenience store format. However, in the short term, these companies have to focus on developing their capabilities in a market where traditional trade dominates and the distribution of goods and services can be costly.
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