Switzerland-based provider of supply chain solutions, Panalpina, today announced that is has expanded its freight forwarding and logistics services by opening a new office in the economically up-and-coming Myanmar.
The company reported that its new office, established in Myanmar's largest city of Yangon, officially began operations in mid-August, opening end-to-end ocean and air freight shipments for both local and international customers.
"Panalpina has worked with customers in Myanmar for many years through dedicated agents," explained Thorsten Harenberg, country manager for Panalpina Myanmar. "We have been grateful for their support, but having our own team on the ground here in Yangon will allow us to work more closely with and better meet the needs of our customers during this exciting time of investment and development."
The election of a new civilian government in Myanmer in 2011 allowed the country to open up to international trade, with the relaxing of economic sanctions against the region. International trade subsequently grew exponentially, with the majority of imported goods coming from other countries on the Asian continent and Europe.
The country's plans to develop Dawei into a deep sea port and special economic zone, combined with geographical land links with Thailand, Laos, Cambodia and Vietnam, could present an attractice multimodal trade corridor between South East Asia and India. However, with a population of 51 million, the lack of infrastructure remains a challenge for the country.
Panalpina cited what it considered the biggest opportunities for growth as lying in telecommunications, manufacturing, oil and gas, as well as capital projects. Apart from transport infrastructure, power plants, refineries and gas terminals need to be built. Myanmar has vast offshore natural gas reserves and is rich with oil deposits and other natural resources such as gemstones and minerals.
"We expect our Energy Solutions team to be heavily involved, as the country develops in the coming years," continued Harenberg. "In the short term, both air and ocean imports will be driving the business. Exports will be limited until the country develops a viable manufacturing industry. Further down the road we also intend to offer value-added logistics services".
Stefan Karlen, Panalpina's regional CEO for Asia Pacific, added that the opening of the new Myanmar office corresponded to the company's strategy to expand in emerging economies, commenting: "We see multiple opportunities to make a difference for our customers and grow in Myanmar".
Photo by Ben Bryant / Shutterstock.com
