Industry & Retail

After decades as a primarily agrarian society, over the past six years Myanmar has made considerable progress towards the development of a sustainable industrial base. Its key manufacturing sectors – which include textiles and garments, food and beverage (F&B) products, and construction materials – have attracted growing investment and, consequently, have rapidly expanded output. In 2014 the industrial sector accounted for 21% of GDP, nearly double its 2008 share of 11%. Foreign direct investment in manufacturing also showed rapid growth in 2014 and the first three quarters of 2015, reaching $1.5bn. From 2012 to the end of 2014 Myanmar’s retail sector expanded by 7-15% per year, in line with overall GDP growth in excess of 7% over the same period. Despite various hurdles, most local retailers expect to see considerable expansion in the foreseeable future. This chapter contains a dialogue with Jean-Francois van Boxmeer, CEO and Chairman of the Board, Heineken NB; and Yoshinori Isozaki, President and CEO, Kirin Holdings Company.