SINGAPORE, Jun, 30 2015 - (ACN Newswire) - It was recently reported that Myanmar has received more than US$8 billion in Foreign Direct Investment (FDI), with a senior official from the Myanmar Investment Commission attributing this to the expansion of the telecoms industry and wooing of manufacturers and energy companies. Myanmar's economy is also projected to grow at a rate of 9.3 per cent this year due to the large amount of foreign investment and the blooming telecoms sector.
With the ASEAN Economic Community set to be launched this year and the young, low-cost labour available, the prospects for Myanmar's manufacturing sector looks set to boom. Manufacturing Myanmar 2015 recently spoke with Mr. Kenton Peh, Sales Manager at Hitachi, first-time exhibitor at the event, to get his perspective of the manufacturing industry in the country.
Technology to enhance sustainability and productivity
Hitachi has been developing and enhancing the technologies in our equipment such as air compressors for more than a century, and our first ink jet printers entered the market since 1975. Our latest generation of compressors, called the "NEXT Series", was developed to offer more efficiency, energy savings and easy maintenance for the Myanmar market.
Launched in 2015, our new UX series of Ink Jet Printers designed with new features and Hitachi original "Makeup fluid consumption reduction System" will be displayed at Manufacturing Myanmar 2015. The printers will help customers reduce their running costs significantly, as well as increase their production efficiency, compared with the conventional labour-intensive labelling method. They will also enable manufacturers to label their products with a higher print quality, which is not only a necessary requirement for export business, but will also enhance their product image. These machines are highly sought after, especially by manufacturers in the Pharmaceutical, Food, FMCG, Cables & Pipes, Automotive and other sectors.
Besides introducing our machines and full range of industrial products, we will also be educating visitors on making improvements in their manufacturing practices by using the right kind of machinery, such as using oil free compressors for Food Manufacturing processes to reduce food contamination. Currently, many factories in the food manufacturing sector use oil flooded screw compressors for their production which may result in possible contamination. By changing to oil free compressor systems for their plants, their manufacturing practises can be improved, which will lead to better productivity and product quality.
History of collaboration in Myanmar
Hitachi has been providing social infrastructure for development projects in Myanmar since 1958, with the supply of generators to the Baluchaung No. 2 Hydro Power Plant. The company's business has since grown to include sectors such as home appliance, construction machinery, elevator, industrial equipment, and medical equipment.
Myanmar's vision is to become a modern, developed nation by 2030, and is putting in place urban infrastructure and measures aimed at promoting trade with other countries, to support the development of science and technology as well as growth in the manufacturing industry. These new social infrastructure systems are expected to stimulate economic growth, as Japanese companies and other foreign capital companies continue to set up establishments in Myanmar. Hitachi places high importance on Myanmar as one of the focus markets in its Southeast Asia's business, as Hitachi targets to increase its overseas sales ratio to more than 50 per cent.
Myanmar's potential as a manufacturing hub
Myanmar holds huge potential as a manufacturing hub in this region. There are many Special Economic Zones (SEZs) and the Myanmar government makes an effort to promote them. Many multi-national companies are also looking to establish their factories in Myanmar.
Manufacturing Myanmar 2015 will be a good platform for us to meet new potential buyers in the manufacturing sector. We also look forward to opportunities to raise the profile of our company and products in Myanmar, at the event.
Manufacturing Myanmar 2015: Tapping into growth potential
Following its inaugural edition's success in 2014, Manufacturing Myanmar 2015 will return from 15 to 17 October at a new venue, the Myanmar Event Park. The exhibition will feature a range of machinery, equipment, technologies and solutions from around the world, tailored to meet the needs of the country's burgeoning manufacturing sector.
Manufacturing Myanmar 2015 will be co-located with Oil & Gas Myanmar 2015, the largest oil & gas event for industry professionals to congregate and source for a myriad of international oil and gas suppliers and service providers.
Event at a glance
Manufacturing Myanmar 2015 Exhibition
Date: 15 - 17 October 2015
Venue: Myanmar Event Park, Yangon
Opening hours: 0900 hrs to 1700 hrs
Admission: Business and trade professionals only