Transcript: Myanmar market insights
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>>Ross Bray: Myanmar represents a small but growing opportunity for Australian businesses. With a land area of 670,000 km2, larger than Thailand, Australians are already in the market. With companies like Woodside, Snowy Mountains, ANZ Bank, Bluescope, Cardno, Meinhardt, just to name a few that are setting up in the market to take advantage of the opportunities.
There are also education opportunities with education agents and service providers offering everything from undergraduate and postgraduate courses, all the way through to technical.
There’s other small and micro businesses that are working very hard to deliver opportunities for their own companies in this market and Australians are working very closely with them.
The country itself has strong commercial potential in many areas, such as the mineral sector, the energy sector, food and agriculture, education, manufacturing and tourism is growing. For Australians in particular we’re excited about the opportunities in the resources sector. There’s a mining law that’s about to be finalised that will create opportunities for mining exploration services that will allow Australian juniors and mining companies to engage in the market for many years to come.
Australia is up there at the top in terms of the opportunities in postgraduate and undergraduate, especially around engineering, business services and a range of other areas.
In the food space, and we’re seeing the opportunity in food for premium meat, for wine, for dairy and for a range of other food products that are going both in the retail market but also into the food service sector.
In infrastructure, architectural design services, consulting services, as the country needs to build its infrastructure Australian companies have many opportunities in that space.
Myanmar is a market where you need to plan ahead. In many cases whether you’re registering products or setting up a business you need to take longer than what you might have originally planned. You need to carry out due diligence, you need to look at who your prospective partners are and talk and use the services of organisations like business chambers as well as Austrade.
We as Austrade are leveraging our relationship with our business and government partners in Myanmar and Australia and we’re building market awareness and we’re building our networks and we’re emphasising those key sectors that we see big opportunities for Australian companies. We’re on the ground and we can assist Australian business with market research and market entry strategies to make your entry into Myanmar a success.