Myanmar, also officially called the Republic of the Union of Myanmar, and more commonly called Burma is a sovereign state located in Southeast Asia. It is bordered by countries like Bangladesh, India, China, and Thailand. Do you want to know whether Myanmar is a good place for foreign individuals to seek out investment opportunities and for companies to their businesses? Well, there is plenty of business opportunities for both local citizens and foreigners in Myanmar. Even though they may be considered difficult at first, and expensive, you they still give you huge gains in the long run and also allow you to grow and expand your business outside of your home country.
Another option is that a sizable Myanmar company could get together with a foreign partner and get a solid project off the ground. Companies like these often have huge funds in the form of assets such as land, and they are willing to lease these lands in reasonable prices, as long as they consider the foreign project to be attractive and feasible. There will benefit both parties. We have compiled a list of business opportunities that might interest you, but you need to conduct a thorough research as to which business opportunity in Myanmar fits your requirements and suits your needs.
In the same way, international travelers love to try out local cuisines as part of the holiday experience so there is a great potential for profit in opening up some traditional restaurants offering local cuisines to foreigners. These people are wealthy and willing to spend a great deal of money on fine dining, good taste and a comfortable and safe environment. Tourism is expected to contribute more and more to the economy of Myanmar with every passing day.
International investors should not that there are two levels of capital requirements for them currently. Large businesses such as multinationals are need to have a capital of 500,000 USD in order to get registered in the country, while smaller international investors are need to have a starting capital of only 50,000 USD. Another thing about Myanmar, which makes it a great place for business opportunities is that a company can be fully owned by international investors. In contrast, foreign investments in Thailand are limited to 49 percent of ownership. So Myanmar is a better place to conduct business than many other countries, and even though the startup costs may be high, there are a whole lot of good opportunities to be found here!
The solutions we offer for companies and their owners cover important areas such as incorporation, taxation, auditing, and work visas, among others.
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Automobile and spare parts industry:
Motorbikes have recently been outlawed in Myanmar, and the older rattletrap taxis are also becoming redundant and used less and less often. This makes increases the need for cars, such as Ford or Hyundai. People don’t want the place to end up looking crowded like Jakarta or Bangkok. While many of such large companies sell their own spare parts, lots of people prefer to purchase less expensive locally made spare parts. This could be a great business opportunity for a local with adequate capital to start such a venture.
Infrastructure construction companies:
Both foreign individuals and local citizens can get together to form division level private construction companies. For example, they could design, build and toll roads or bridges. There is a severe need for good quality high speed roadways and other forms of infrastructure in Myanmar. Roads heading to Chaungthar Beach, on the West coast of the Irrawaddy delta are proof of that, even though it is a prime tourist destination. The best part is that the government of Myanmar is even considering allowances for such business ventures. With Singapore being so close by, we can also find many business opportunities in Singapore to inter link business in both countries.
Hoteling and restaurant business: Prices of accommodation in countires like Myanmar are very expensive, even though it is otherwise a cheap travelling destination. This is because there is a huge shortage in the number of hotels built in Myanmar. During the holiday season, there hotels become booked before you know it, and can lead to doubling and tripling of usual hotel room rates. The government is, therefore, willing to have international or local hotel chains and guesthouses to be established here. If you can keep the operating costs to minimum and offer competitive rates, then customers will be flocking to you in no time.