photo: Front-sectional view of a leading supermarket in Myanmar
With the recent market opening measures and the enactment of the Myanmar Investment Law in October 2016, foreign investments and international trade have rapidly increased in this fast-developing economy of 53.5 million people in Myanmar. Myanmar recorded an import total of US$9.1 billion of commodities of which 20 per cent were consumer products.
Major market prospects for imported foods are enhanced by the fast rising consumer incomes, steady influx of tourist arrivals, and growing numbers of expatriate residents. A significant percentage of foreign investments that flowed into the country have been channeled into the development of new five-star hotels, shopping malls, and office buildings in the country. The number of hotel rooms has doubled in the span of five years from 2011 to 2016 to 17,700 in Yangon alone.
The swift rise in the establishment of foreign franchised restaurants have also contributed to the corresponding rapid rise in imported foods as some of the food products and ingredients required in the foreign franchised restaurants are not produced locally. There are almost 60 main franchises operating in the country including well-known Western-style fast food chains such as KFC, Pizza Hut, Burger King, and Swensen’s while Asian franchised restaurants include Lotteria, Astons Specialties Steak House, Breadtalk, Crystal Jade, Thai Express, Ayam Penyet, The Manhattan Fish Market, and Freshness Burger.
Direct U.S. exports of agriculture products to Myanmar totaled US$82.4 million in 2016. Major well-known foreign brands include Nestle, Kellogg’s, P&G, Unilever, Kraft, Heineken, Heinz, Pepsi and Coca-Cola. U.S. processed food exports to this nation include food preparations protein concentrate, processed/prepared dairy products, prepared/preserved seafood, processed vegetables, pulses, beer, and wine. The actual variety and volume of U.S. consumer-oriented products are generally deemed to be much higher than the official figures since a large number of U.S. foods are imported through third countries like Singapore.
For further information please refer to Exporter Guide_Rangoon_Burma – Union of_12-22-2017