Malaysian Companies to build palm oil factories in Myanmar

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Malaysian companies are planning to build palm oil factories in Myanmar, according to Malaysian Minister.

Dr. Dato Seri Douglas, Minister of Plantation Industry and Commodities told reporters that Malaysian companies are arranging to invest in the construction of palm oil factories in Myanmar.

“Myanmar companies will also cooperate with Malaysian companies in order to attain technical know-how. Malaysia government has planned to extend its market in Myanmar and also for exporting,” said the Minister.

In 2012, Malaysia exported a total of 345,000 tons of palm oil and its related products to Myanmar, added the minister.

“Malaysia has great ambition concerning this matter as Malaysia palm oil has much demand in Myanmar. Businessmen from Myanmar and Malaysia are jointly planning to manufacture palm oil,” continued the Minister.

After permitting private businessmen to import of palm oil, the price of palm oil will become more stable.

There is a few changes in import prices, but palm oil price remains unchanged in the local market. Some think that there may be an increase in price of local consumer goods because of rise in dollar prices.

Source : Eleven Myanmar / July 1, 2013

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Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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