Makro hosts business networking event in Myanmar
In support of sustainable economic growth in Asean, 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 (November 28) 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 2020.
Siriporn Dechsingha, Chief Corporate Communications Officer of Siam Makro Pcl, said that 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 Union of Myanmar Federation of Chambers of Commerce and Industry (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.
"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 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."
Myanmar's economy is one of the fastest-growing in Asia. According to the World Bank, its 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.
Currently, Makro has a total of 133 branches in Thailand and 6 branches overseas: two in Cambodia, three in India, and one in China.
