Maersk-affiliated third-party logistics provider Damco has started operating what it said is the first international-standard warehouse and container freight station (CFS) in Myanmar.
The new 4,000-square-meter facility is Customs-Trade Partnership Against Terrorism compliant and located within 15 kilometers from Yangon ports and major industrial locations.
It is suitable for import/export activities for fast-moving consumer goods, consumer electronics, apparel, components, machinery, and project cargo.
“Damco is the first global logistics company in Myanmar. After acquiring an operating license in 2013 and opening a new office in Yangon, we have strengthened our position in Myanmar by being the first international logistics company in the country to start offering own-operated CFS/warehousing services,” said Kiattichai Pitpreecha, managing director of the Thailand, Malaysia & Myanmar cluster.
“Emerging markets have always been one of Damco’s focus areas and core strengths, with many of our key customers sourcing their products from or operating in these markets,” added Kiattichai Pitpreecha.
Meanwhile, Japan’s Yusen Logistics recently held the official inauguration of Yusen Logistics (Myanmar) Co., Ltd in Yangon, Myanmar, as the company reiterated its strategy to strengthen its presence in the Association of Southeast Asian Nations (ASEAN) region.
At the opening ceremony, group president Hiromitsu Kuramoto said Yusen Logistics will “continue to push ahead with our expansion program in the ASEAN region,” as he noted the growing importance of logistics in Myanmar.
Since international sanctions were lifted in 2012, Myanmar has established itself as a new frontier market, with potential to become a major sourcing country and consumer market in the near future. The country is strategically located between three drivers of global economic growth—China, India, and Southeast Asia.
