On Nov 30, 2011, Wallstreet Journal Asia published an article about companies venturing out and investing in Myanmar. Alex Frangos spoke to Philipp Hoffmann, general manager JJ-Pun, the Group's entity in Myanmar. Read excerpts of the article below.
"Foreign businesses are ramping up interest in the long-isolated but potentially lucrative market of Myanmar, as signs of a thaw between its government and Western leaders raise hopes of a possible end to Western sanctions.
For now, the push is confined mainly to Asian companies that aren't covered by tough sanctions imposed by the U.S. and Europe since the late 1990s to punish Myanmar for its poor human-rights record. Some investors held back because of concerns about risks to their reputations, while others doubted the opportunities were worth pursuing and now are changing their minds. ...
Encouraged by last year's elections, closely held Singapore-based industrial-trading and services company Jebsen & Jessen set up a joint venture in the country in July.
"It's such a positive vibe," said Philipp Hoffmann, general manager of the venture, which is based in the commercial capital of Yangon. The company sells industrial chemicals, pumps and irrigation equipment to golf courses, a legacy of British colonial rule. "If Myanmar does it right, we could see it develop even faster than Vietnam," he said. ..."
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