INTERMACH 2013: Myanmar now opens for business

Source：INTERMACH 2013 Release Date：2013-10-22 217

Metalworking

As is widely known, INTERMACH is one of the leading industrial machinery and subcontracting events in Asia.

Now thanks to the newly emerging market of Myanmar, there will be special opportunities for our exhibitors to participate in the first INTERMACH Myanmar event which will run from October 24-26, 2013 in Tatmadaw Exhibition Hall, Yangon, Myanmar.

INTERMACH MYANMAR is being organized by UBM Asia (Thailand) Co. Ltd the company that has made INTERMACH such a success in Thailand. The official signing ceremony and Memorandum of Understanding with Myanmar Industries Association took place at BITEC during INTERMACH 2013. The Agreement was signed by Mr. M Gandhi, Managing Director (ASEAN Business) of UBM Asia (Thailand) Co., Ltd. and Mr. Aye Tun, Joint Secretary, Myanmar Industries Association - leading organization of Myanmar industry sectors.

News: Inside Industry

With ample business opportunities arising from the upcoming Asean Economic Community (AEC), Thai businesses are urged to establish a foothold in neighbouring Southeast Asian nations despite unclear investment regulations in Myanmar.

Prachuab Supinee, Thailand's commercial counsellor in Myanmar, called on Thai companies including small and medium-sized enterprises (SMEs) to develop a presence in Myanmar in order to understand the market and find partners.

"If you are actually in the market, you will know the market potential. SMEs in particular will never know what's happening there if they don't invest," he said on Thursday at an AEC seminar hosted by KPMG Thailand. Development is happening quickly in Myanmar. After opening the Mandalay checkpoint to foreign access, they opened two extra checkpoints last month including one at Ban Phu Nam Ron in Kanchanaburi."

"Myanmar's manufacturing sector does not have enough capacity to meet domestic demand and provide opportunities for Thai companies to set up production or distribution there. Of a population of 48 million people, 80% are in favour of imported products, especially Thai products, because they believe the goods are better quality than those locally made. I don't see any major obstacles for doing business in Myanmar," said Mr Prachuab.

Source: Myanmar Business Network

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