FACTORIES IN MYANMAR URGE SHIPPING NEEDS

The ongoing quest for low cost production has drawn manufacturers’ attention to a small Southeast Asian nation that has been out of the sourcing network for nearly a decade. Myanmar has been thought of more as an exotic tourist destination than a sourcing location, however that might be about to change.

Companies are building manufacturing facilities in Myanmar, about the size of Texas, to take advantage of cheaper labor than in China. The country exports gas, rice and wood and is now importing steel, building materials, machinery and other parts to build factories and infrastructure. Myanmar is also planning to more than double rice shipments as the country that used to be the world’s largest exporter of the grain embraces trade and opens its economy, challenging Thailand, Vietnam and Cambodia.

Multinational corporations such as Coca Cola and Suzuki Motor Corp are pushing the demand for transportation of machinery to Myanmar to bottle drinks and make trucks.

An increase in capital inflows is likely now that many nations have lifted restrictions on financial investment in the nation.Japan, Hong Kong and South Korea amongst others seem to see Myanmar as what it is, a country with a profitable manufacturing base, good reputation and low cost labour incentives, providing a good all round package for manufacturing and distribution giants worldwide.