Franchisers urged to look at Myanmar

Franchisers are advised to consider setting up businesses in Myanmar to grow, as that country moves to attract more investments.

Speaking at the opening of the 11th Filipino Franchise Show yesterday, Cecilio Pedro, president of Hapee toothpaste manufacturer Lamoiyan Corp., said Filipino franchisers must look into doing business in Myanmar as that country starts opening its economy.

“Maybe AFFI (Association of Filipino Franchisers, Inc.) can bring businesses there (Myanmar). It is just opening up and there are so many opportunities there,” he said.

He said that as Filipino businesses aim to become world-class, they could start expanding overseas.

Myanmar has caught the eye of many businesses as its government is moving to lure investors there by offering incentives.

The Myanmar government has adopted a revised foreign direct investment law which extends the income tax holidays enjoyed by foreign investors for five years from three years.

AFFI executive vice president Ricardo Cuna told reporters in the same event that while there are no concrete plans from any of its members yet to expand to Myanmar, they are open to exploring opportunities there.

“This is something new but we are willing to look at opportunities there,” he said.

With so many businesses also growing their network and reach within the country, tapping new markets overseas is unavoidable.

“Many of our members are plying out of the country and that is also something we want to promote,” Cuna said.

The 80-member AFFI expects its group sales to rise by 25 percent this year from last year’s $11 billion with the entry of new members and as more businesses expand.

Compared to 2010’s $9.4 billion, AFFI’s sales climbed 17 percent last year.

The AFFI which was organized in 1997, is committed to promoting responsible micro, small and medium enterprises through franchising.