Myanmar is a country that began to open its market recently. Indeed, this change occurred during the dissolution of the military junta and the election of opposition to the military dictatorship. The country is therefore much more open to neighboring countries, new markets and the rest of the world. However, Myanmar is still fragile despite markets that are beginning to stand out and provide real opportunities for international businesses. It should be noted that Myanmar is considered one of the Least Developed Countries with a GDP of $900 per capita in 2012/2013. But to show its progress, market research are required to ensure a good knowledge of the market. Here are short industry reports to better assess the market potential of Myanmar.
Myanmar market #1: Tourism market
It is possible to make great meetings in Myanmar without having to walk for hours or days in the mountains. The kindness of the Burmese is legendary, the scenery superb and the craziness guaranteed.
Myanmar is especially appreciated by international tourist and tourism market players because of the opportunity to meet ethnic groups. Enjoying nature is also a good way to make the most of the tourism market in Myanmar.
Myanmar market #2: Luxury and jewelry
Myanmar is rich in precious stones: jade, rubies… The luxury and jewelry market is flourishing thanks to the natural resources of the country and the great opportunities laying out.
In Mandalay, the whole neighborhood of the jade market resonates with the noise of electric saws and handy sanders. The craftsmen work beside buckets of water in which they plunge the stone heated by the friction of the millstone. According to the beauty of the stone, the owner of the workshop decides its use: here a stone, in a bright green brightness, then bracelets, rings in the splinters
The jade comes from far away, largely from the Pakant mine in the forest, near Lake Indawgyi. The mines are isolated, inaccessible to tourists, hard work and lean wages; The beautiful stones are rare, and the intermediaries numerous. A friend in Myitkyina worked in the mines; For seven years, he dug twelve hours a day, partly in opium, to be able to bear this hard work better …
In Rangoon, a small stone market is held daily behind Scott market, just in front of the “food center”. At four o’clock, the animation is in full swing. A tea house has spread its tables on the sidewalk and today I am allowed to sit and watch. The men spoke to each other, then unfolded little white papers revealing the green stones sometimes like emeralds for the jade, dark red, “pigeon blood” for the rubies.
The stone trade is a state monopoly and generates significant revenues. Tourists have to buy in shops with a government license and, twice a year are sales, now in Naypidaw, attracting a clientele from around the world.
Myanmar market #3: Agricultural industry
Myanmar is known to be a largely agricultural country. Indeed, the primary sector would account for 45% of Myanmar’s GDP. The Burmese authorities are very interested in biotechnology companies. Indeed, this sector is very efficient if it is to improve agricultural yields. Rice is the country’s main agricultural product, accounting for almost 60% of the area under cultivation and 97% of total cereal production. Other products are very common in Myanmar: sugarcane, peanut, wheat or millet.