What are the situations that you would look for a local Myanmar business partner?
- In restricted industries it may be mandatory for foreign investors to partner with a Myanmar citizen or enterprise in order to invest in these industries. Example would be in the area of retail, hotel, real estate agency, setting up factories to supply to the local building and construction industries, manufacturing and distribution of confectionery products for local distribution and sales, setting up private hospitals, etc
- If you are a business owner and you source products from countries such as China or Thailand where cost has been increasing rapidly year by year due to rising wages – you may want to find a local manufacturing partner in Myanmar who can supply you with more cost competitive goods. Myanmar’s average wage cost per factory worker is like 25% that of China’s.
- If you are a manufacturer of pharmaceutical products or building & construction products for example and would like to find a reliable local distributor.
- If you are a specialized geological company servicing the oil & gas and mining industries and your service is called upon only when there is an open tender and you need to look for an experienced local representative who can work for you on a 20-hours-week preferably from home. However when there is an open tender you need your local representative to work full time for 3 months at a stretch from a service office.
We can help you find suitable partner as we have built a database of major companies in Myanmar and who the business owners are.
Take note that if you ask your Myanmar friends to recommend a distributor or joint venture partner – unless they are very familiar with the industry that you want to get into – most likely they will introduce their relatives or friends to you as they are very helpful and communal people. However is that what you want?
If you want to work with professionals who are very objective and will comb through the industry segment – identifying companies based on your selection criteria, ensuring that these companies are legally registered company that have the necessary business licence, assets and track records to deliver the kind of performance that you expect from a potential business partner then contact us.
For your information many Myanmar people including foreigners with official sounding company name, fancy job title, beautiful name card and website are operating without proper business licence in Myanmar. Can you tell from their name card, website or the business suit they are wearing? We can in 10 minutes tell you if this company is legitimate and who is the Managing Director !
Imagine if you spend one month of futile search, negotiation and “relationship building” in Myanmar, chasing down wild leads. How much will it cost you in terms of accommodation,meals, transportation and entertainment? Assuming that you are staying in a 4 star hotel you will most probably be spending US$300 a day – in 30 days you will be spending US$9,000! This US$9,000 a month exclude the cost of your airfare and time spent in Myanmar. Your round-trip air ticket, travel visa and transport to and from airports would cost you around US$2,000? What is the income you are foregoing by spending a month in Myanmar? The time that you spend away from your family – how much does it cost you relationship wise?
Myanmar like all emerging markets requires your focus and your time. However there are those businessmen who use their time wisely and use our service to plan their trip proactively to ensure that it is a short but productive trip.
If you want to make better return on your time in Myanmar – CONTACT US.
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