Surge in modern construction projects in Myanmar set to raise glass demand
MyanGlass 2018 will be taking place in conjunction with MyanBuild 2018,and is expected to attract over 7,000 trade visitors nationwide.
The use of glass is on the rise as Myanmar is undergoing extensive development
The use of glass is on the rise as Myanmar is undergoing extensive development in building and infrastructure,particularly in Yangon.Among the major projects that utilised glass include Sule’s Centrepoint Towers Hotel,Sakura Tower,and Myanmar’s International Convention Centre.More and more upcoming construction projects in Myanmar are following modern trends which use greater quantities of glass,hence leading to a surge in demand.
Myanmar is expected to see more major projects to break ground as foreign direct investments has surged,with the current Fiscal Year(2017-2018)estimated at more than USD 3.5 billion in investments coming in from abroad.The value of the country’s construction sector has expanded from USD 8.2 billion in 2015 to a projected USD 13.5 billion in 2020.
U Maung Maung Win,Deputy Minister of the Ministry of Planning and Finance has emphasised that FDI are vital for Myanmar’s infrastructure sector,special economic zones and industrial zones,ultimately contributing to the country’s economic development.
As more money is being pumped in,new projects will commence and it is imperative that industry players are able to keep up with the latest materials,technology and business trends.As the building and construction industry of Myanmar which includes industrial,residential and commercial projects are growing exponentially,this translates to numerous opportunities for the glass industry.