doing business in myanmar – what you need to know as a singaporean
Trade agency IE Singapore has tied up with two new partners to organise more business workshops that will focus on South-east Asia, especially Myanmar, Cambodia and Indonesia.
The new partners – Ngee Ann Polytechnic and Human Capital Singapore – have joined existing partners Singapore Business Federation and Singapore Chinese Chamber of Commerce and Industry in the initiative. The three- to five-day workshops aim to give insights on the laws and regulations governing areas like financing and manpower in particular nations and the company registration processes.
Sessions are also held to allow local small and medium-sized enterprises (SMEs) to interact with fellow Singapore businesses already in the market, and network with potential local business partners.
Ngee Ann Polytechnic helped organise a workshop in Myanmar in April, which Light Bulb Advisory managing consultant Kevin Lee found useful. He said: “The direct interaction with Myanmar business owners made us realise three key things – one, they were eager to grow their businesses but lacked the know-how. Two, there is a shortage of professional talent in Myanmar. And three, they see value in the Singapore brand name and the quality of our services.”
He added: “We are in dialogue with our local partners and business owners on how we can provide business advice in areas such as cash flow management and cost savings from optimising capital structure.”
Previous workshops have reaped successes, IE said. A construction and housing workshop in Ghana and Ivory Coast conducted last year helped local manufacturer Archicom in setting up an office in Ivory Coast and in forming a joint venture with an Ivorian firm.
With more new partners, IE plans to expand the workshop offerings and reach out to more SMEs, to triple the number of participants from 122 last year to 350 this year. In line with South-east Asia’s urban development, growth in consumer demand and the rise of e-commerce, the workshops will focus on infrastructure in Myanmar, manufacturing in Vietnam and retail in Indonesia.
Other themes include the Internet of Things and e-commerce in China. These sector-specific workshops will focus on key areas such as preparation for government and private tenders for infrastructure projects, and sourcing and securing land for production.
Source: The Straits Times
