After being granted a permanent license in July to operate under its own legal entity in the country, Damco becomes one of the first supply chain solution providers to offer end-to-end logistics services there.
Myanmar, with about 60 million people, is implementing reforms and was opened to business in 2012 with companies from the U.S., Europe and beyond.
Damco is working closely with the UK-based Institute for Human Rights and Business and the Danish Institute for Human Rights to ensure the UN Guiding Principles on Human Rights are applied.
In May 2012, Damco participated in a fact-finding mission which involved consulting with NGOs, local companies and diplomats. Subsequently, a resource centre was established within the British Council in Yangon. Since then, an experienced business development manager has been accompanying some of Damco's customers to meet local trade associations, conduct market studies and look at vendor sourcing and setting up container freight station and container yard operations on the ground.
"Damco is a first-mover logistics company in Myanmar. We have an immediate implementation plan as well as a long-term one to set up logistics capability and infrastructure in Myanmar. This will allow our customers to open up their supply chains and sourcing operations in the country, whilst ensuring the highest standards are met in terms of meeting the principles of the UN Global Compact," said Damco Cluster Manager Kiattichai Pitpreecha.
Timely, incisive articles delivered directly to your inbox.