More SMEs tap Myanmar's potential

SINGAPORE's small- and medium-sized enterprises (SMEs) are increasingly seeing the potential of the Myanmar market, with more local companies venturing out into the country. Singapore was the second largest investor in Myanmar as of 2016, with a cumulative investment of US$15.6 billion (S$21.2 billion), according to figures collated by the Myanmar Directorate of Investment and Company Administration (DICA).

With its strategic location at the crossroads of India and China, as well as sharing borders with Bangladesh, Laos and Thailand, the country stands as a big combined potential market for Singapore businesses to tap.

One such SME that has taken the leap into Myanmar's market is cold chain logistics service provider ITC Holdings Pte Ltd.