Myanmar hype over but new firms may make fresh waves

ENTHUSIASM surrounding business expansions into Myanmar has flagged, although there is still optimism about a potential second wave of firms entering the country in the near future.

Since Myanmar began its efforts to liberalise its economy towards the end of 2011, a flurry of Singapore companies have sought to secure a foothold in its domestic economy with varying degrees of success.

Mobile phone distributor MDR Limited made its entry into Myanmar through a joint venture in 2013 and has since announced that it will act as an after-market service provider for Nokia in the domestic market.