Third-party logistics provider Damco has started operating the first international warehouse and Container Freight Station (CFS) facility in Myanmar, the Netherlands-based company said.
This brand-new 4,000 square metre facility is C-TPAT compliant and located within 15 kilometres from Yangon Port and major industrial locations, Damco said.
The facility is suitable for import and export activities for Fast Moving Consumer Goods (FMCG), consumer electronics, apparels, components, machinery and project cargo, the firm, which is subsidiary of Danish conglomerate Maersk, said.
“This state-of-the-art, international standard CFS facility enables us to provide superior service to our customers through direct control and management of the entire operation and service delivery process,” Kiattichai Pitpreecha, managing director of the Thailand, Malaysia and Myanmar cluster.
Since international sanctions were lifted in 2012, Myanmar has established itself as a new frontier market, with potential to become a major sourcing country and consumer market.
The country’s strategic location between three drivers of global economic growth – China, India and Southeast Asia – makes it one of the most unique emerging markets in Asia.
“Emerging markets have always been one of Damco’s focus areas and core strengths, with many of our key customers sourcing their products from or operating in these markets.
“They will benefit from the same service quality for cargo shipped out of Myanmar as any other country in which we operate,” Kiattichai added.
Damco has 11,400 employees in more than 300 offices around the world in about 100 countries. In 2013, it had a net turnover of $3.2 billion, managed 2.8 million Twenty-foot equivalent unit (TEU) of ocean freight and supply chain management volumes and air freighted more than 225,000 tonnes.
Source: Myanmar BUSINESS TODAY