Myanmar lures Asian firms

One in four Asian enterprises plan to enter Myanmar this year, making Asia’s newest emerging market one of the top investment destinations in the region, according to a survey by United Overseas Bank.

Myanmar appears poised to become the beneficiary of an uptick in inbound investment and M&A activity as fears of the government backsliding on reform subside.

The latest inbound deal was Japanese trading house Mitsubishi Corp’s acquisition of a 30% stake in Capital Diamond Star, a major Myanmar conglomerate. They said in a statement this week that together they plan to invest $200 million in Myanmar’s food sector, tipped alongside automotive and shipping as a key area of interest for regional players. Some 33% of Hong Kong firms are keen to enter the market, according to the UOB survey, which cites the IMF and McKinsey.

Source: Finance Asia

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