YANGON — Siam Makro Plc, the Thai operator of Makro cash-and-carry stores, is looking to expand its presence into Myanmar in the near future, according to media reports.
Company representatives have met with the Thai ambassador to Myanmar and are exploring the market with the plan of opening stores in the country.
“We have conducted a feasibility study on Makro’s market opportunities in many ASEAN countries, with Myanmar, Vietnam and Indonesia being the priority destinations,” said chief executive Suchada Ithijarukul.
She added that the boom in Myanmar’s tourism industry also means greater opportunities for Makro.
Foreign companies are currently banned from investing in supermarkets and hypermarkets, but it is expected that they will be able to form joint ventures with local companies in the near future.
The company has also made feasibility studies into Indonesia and Vietnam, and is planning to open more stores in Thailand in the future. Siam Makro has already opened stores in towns close to Thailand’s border with Myanmar, such as in Mae Sot, Tak province.
Established in 1988, Siam Makro now has more than 60 stores across Thailand. In 2013, the company was purchased by Charoen Pokphand Group for US$6.6 billion.