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TWK Precision Technology has successfully participated in Builtech Yongong 2014 – Myanmar.

24 May 2014
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 The BT Yangon trade show is meant for:

  • Architect, Engineer, Surveyor, Contractor
  • Developer, Investor, State-owned Company
  • Government Agency, Trade/Business Association
  • Product distributor/Sales agent/wholesaler/retailer
  • Product manufacturer of machine and building material
  • Product manufacturer of machine for the making of material for the built environment including workshop
  • Service provider for material handling and equipment rental
  • Education and training institution
  • Financier and legal

What Drives Myanmar’s Growth?

Myanmar, a country that has high potential for rapid growth and development given its rich natural resources, abundant labour force, and strategic location is gradually embracing wide-ranging reforms. The government is deepening and broadening management while facilitating trade and foreign direct investment (FDI) and removing structural impediments to growth by establishing physical and social infrastructure, building legal and institutional frameworks, and developing banking and financial sectors; causing the upbeat of recent near term Myanmar’s economy outlook and pick-up of FDI flow, making it one of the next rising stars in Asia.

Myanmar Construction Industry Overview

The Myanmar construction Industry is currently valued at close to US$3.2bn and is expected to achieve an 8% CAGR and a total of 24% growth to US$4.2bn in 2016. The construction industry is driven largely by the residential and infrastructure sectors which in total make up almost 80% of the total industry value.

Residential construction is the largest market in the Myanmar construction industry with a value of US$1.5B, and accounting for 51% of total Myanmar construction output.

Strong long term price support due to significant housing supply shortages experienced in Myanmar.

 
  • In Yangon, the demand for affordable housing is 200,000 units every year, although the supply only provides 20,000 units.
  • Shortage exists across all residential sectors, in particular the lower- and middle-income group. To address this, several construction companies have started to develop low-cost affordable housing projects.
  • The government-funded social housing program is not significant in Myanmar, although it is expected to develop over the forecast period.

TWK Precision Technology Successfully Participated in BT Yangon 2014.