Colgate-Palmolive to open factory in Myanmar
The Myanmar Investment Commission (MIC) has given US company Colgate-Palmolive a licence to produce commodities in Myanmar.
The company applied to the Directorate of Investment and Company Administration (DICA) to create Colgate-Palmolive (Myanmar) Ltd., and was granted permission on May 29. The MIC fully licensed the company on June 13.
“We’ve experienced that Western companies run business in Myanmar under their regional company branch. This is more convenient to discuss economic measures. The head company provides the capital and directs the branches to operate franchise chain,” said an official from DICA.
The company – known for its famous brands and beauty products – will run business in Myanmar under its company chain in Thailand and plans to open a factory in Shwepyitha Township.
Apart from Colgate-Palmolive, the MIC has granted licenses to four garment manufacturers: Fu Yuen Garment Company from Macau, Eslite Garment Company and Polar North Garment Company from Taiwan, and the outdoor apparel manufacturer Eusebio Sporting (Myanmar) Company, also from Taiwan.
Other new businesses in Myanmar are partnerships with Singaporean HSL Group and Puma Energy. Dutch brewing giant Heineken’s Singaporean subsidiary Asia Pacific Breweries will sell alcoholic beverages and the British Virgin Island registered Capeview Enterprise Corporation will manufacture soft drinks.
DICA has to date approved the investment of 88 foreign companies in Myanmar.
The Myanmar Investment Commission (MIC) has given US company Colgate-Palmolive a licence to produce commodities in Myanmar. The company applied to the Directorate of Investment and Company Administration (DICA) to create Colgate-Palmolive (Myanmar) Ltd., and was granted permission on May 29. The MIC fully licensed the company on June 13. “We’ve experienced that Western companies run business in Myanmar under their regional company branch. This is more convenient to discuss economic measures. The head company provides the capital and directs the branches to operate franchise chain,” said an official from DICA. The company - known for its famous brands and...
The Myanmar Investment Commission (MIC) has given US company Colgate-Palmolive a licence to produce commodities in Myanmar.
The company applied to the Directorate of Investment and Company Administration (DICA) to create Colgate-Palmolive (Myanmar) Ltd., and was granted permission on May 29. The MIC fully licensed the company on June 13.
“We’ve experienced that Western companies run business in Myanmar under their regional company branch. This is more convenient to discuss economic measures. The head company provides the capital and directs the branches to operate franchise chain,” said an official from DICA.
The company – known for its famous brands and beauty products – will run business in Myanmar under its company chain in Thailand and plans to open a factory in Shwepyitha Township.
Apart from Colgate-Palmolive, the MIC has granted licenses to four garment manufacturers: Fu Yuen Garment Company from Macau, Eslite Garment Company and Polar North Garment Company from Taiwan, and the outdoor apparel manufacturer Eusebio Sporting (Myanmar) Company, also from Taiwan.
Other new businesses in Myanmar are partnerships with Singaporean HSL Group and Puma Energy. Dutch brewing giant Heineken’s Singaporean subsidiary Asia Pacific Breweries will sell alcoholic beverages and the British Virgin Island registered Capeview Enterprise Corporation will manufacture soft drinks.
DICA has to date approved the investment of 88 foreign companies in Myanmar.
