Asia Inc leads West in business in Myanmar

Yangon

ASIAN businesses are gaining a foothold in Myanmar far quicker than those from Europe and North America, with China, Thailand, Hong Kong and Singapore accounting for nearly half of the firms setting up in the fast-changing country.

According to the government's Directorate of Investment and Company Administration (DICA), 134 Singaporean, 80 Thai, 73 Chinese and 85 Hong Kong companies signed up to do business in Myanmar by Sept 30. That compared with 18 from Canada, 15 from the United States, 15 from Australia, 10 from Netherlands, three from France and two from Germany.