By Nyein Nyein
Thailand-based Makro company will open its first Makro Myanmar store in March in Yangon, said U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA).
“The store business, which will get 100-per cent foreign direct investment from Thailand-based Makro company, will come up in Mingala Taung Nyunt Township of Yangon Region. The company has invested US$28.7 million on a 9.2-acre plot of land owned by the Ministry of Commerce to conduct the wholesale and retail business. Makro Company was granted permission to invest in Myanmar on 20 February 2019 by the Myanmar Investment Commission (MIC). The company has announced that it will open the wholesale and retail business in March,” he added.
Makro will sell a variety of products to business partners and members around the world, including retailers, restaurants, food and beverage services, government departments, educational organizations, and other businesses. The company will provide support for sale of good-quality products to help generate profits for business partners so they can improve their financial performance.
The Makro Myanmar Company extended its business in Myanmar in 2018 by establishing the ARO Commercial Company Ltd. Currently, the company is selling more than 12,000 products over 7,000 square meters in Yangon town.
Siam Makro Company was established in 1988 as a member-based wholesale center under the ‘Makro’ brand. Currently, there are more than 130 Makro stores in Thailand and more than 3 million Makro members.
In 2018, the company extended its business to Cambodia, India, Myanmar, and China. (Translated by Hay Mar)