YANGON: The services sector in Myanmar still has room to grow, and Malaysian companies should take advantage of the opportunity to gain a foothold in the country.
Malaysia External Trade Development Corporation (Matrade) international partnership division director Amran Yem said the services sector in Myanmar now represents 38 per cent of the country’s gross domestic product (GDP), compared to about 52 per cent for Malaysia. In developed countries, the figure can reach up to 60 per cent.
“This shows that the services sector has the potential to drive the entire Myanmar economy, and Matrade will spare no effort to help Malaysian companies be part of that growth,” he said when met at the 4th Malaysia Services Exhibition (MSE) and Showcase Malaysia 2015 here today.
Amran said Matrade would continue conducting business meetings and mediate dealings between Malaysian and foreign companies, as well as facilitate tie-ups.
“We (Matrade) will conduct focused business missions to emerging markets in the Asean countries and encourage Malaysian companies to form consortiums to improve their bargaining power,” he said.
Amran said besides direct exports, Matrade's objective is also to establish a long-term working relationship between Malaysian and foreign companies.
"Our role is also to introduce funding options to Malaysian companies because capital injection is vital in the long run," he said.
Matrade introduces suppliers of quality products and services from Malaysia to companies abroad.
It provides cross border investment from Malaysia to targeted countries and introduces suitable partners in sub services sector like franchise, education, healthcare as well as information technology.
The government agency also coordinates the participation of companies from targeted companies at international trade fairs, including MSE.