Review of Myanmar Int’l Building Material, Hardware & Tool Exhibition 2016
by Konnor Lee, Fastener World
Myanmar Int’l Building Material, Hardware & Tool Exhibition 2016 was successfully given at Tatmadaw Exhibition Hall (Yangon) on May 12-15. Myanmar is the 2nd largest country in Southeast Asia. With a population of 60 million, it is just located in the middle of China, India, and ASEAN and it also has a deep seaport, which is very good for import and export. After experiencing a long period of political unrest, in recent years Myanmar has gradually carried out its economic reform and held an open attitude to the international market. Many foreign businessmen, trade delegations, and leading banking services came to Yangon to find their own business opportunities. In order to satisfy the increasing demand of potential domestic/overseas investors for offices and factories in Yangon, the construction of many hotels, office buildings, and apartments have been also started, greatly increasing the demand for building materials, hardware, and related paint.
This was the first time for Fastener World Inc. to exhibit at this show. The exhibits of this show included lighting materials, hand tools, building hardware, decorative hardware, hardware accessories, abrasives, paint, floors & tiles, electrical systems, related machines, to name a few. As Myanmar has just opened its market to the world, many companies came to exhibit mainly out of curiosity about the market and the interest in assessing the possibility of the Myanmar market. Some analyses reveal that there are many end users in the developing Myanmar market, but there aren’t many importers/exporters and large scale factories there. However, the traditional industries of Myanmar still show great demand, so there is much space for the market to grow. On the other hand, the Myanmar government has recently announced an 8-year tariff-free favorable measure for foreign investors, which is expected to boost exponential growth in the demand for building materials in the future 10 years. It seems that it still isn’t too late for companies interested in entering this market to have a try.
