Newly opened Myanmar presents a golden opportunity for small and medium-sized businesses; and foreign banks like OCBC Bank, which are established in the country, can assist in cultivating the cross-border dynamic.
For many, Myanmar still presents a world of unknowns. The southeast Asian country is a frontier market with vast potential, and it is ready to embrace the outside world. With its need for infrastructure, hospitals and the like, opportunities abound for companies eager to enter.
“Myanmar is an attractive country that is growing economically,” says Tan Chor Sen, head of international, global commercial banking at OCBC Bank. “Because it opened up fairly recently, there are many untapped opportunities.”
judi slot online, daftar situs judi slot online terpercaya, game slot online, situs judi slot online, daftar situs judi slot online terpercaya 2020, situs slot online terbaik, casino slot online 888, situs slot online indonesia, nama nama situs judi slot online, situs slot online, online slot, daftar slot online, link slot online, slot game online indonesia, slot online indonesia, game slot online indonesia, slot online, slot jackpot online, judi online slot, judi slot online indonesia, judi mesin slot online, judi slot online android, slot judi online, agen slot online, games slot online, situs judi online slot, permainan slot online, bandar judi slot online, slot 88 online, agen judi slot online, judi slot online terpercaya, main slot online, game judi slot online, link judi slot online, bermain slot online, slot online 2021, daftar situs judi slot online, slot online casino
Like many of its neighbours, Myanmar is growing. Its population is young, and its middle class has nearly doubled since 2012 with its income expected to grow at double-digit rates over the next five years. This demands higher-quality resources, such as schools and medical centres – and foreign players can fill the gaps.
Myanmar’s government has already loosened its policies on foreign investment. For instance, the 2018 Myanmar Companies Law allows companies to retain classification as a Myanmar entity while having up to 35% foreign ownership. In addition, operating licences can be acquired more easily now in Yangon and additional accommodative policies are expected.
Foreign SMEs can take this opportunity to build in Myanmar and enter joint ventures with local players. Foreign banks – such as Singapore’s OCBC Bank, which has been in Myanmar on and off since the 1920s – are in an ideal position to assist in this cross-border growth.