Unilever Plans Second Factory In Myanmar

Unilever plans to open a second factory in Myanmar, according to Unilever Thai Trading chairman Bauke Rouwers. As a sign of the company's growing confidence in the country, whose recent political and economic reforms has prompted Western governments to lift sanctions against the Southeast Asian country, Unilever said it plans to invest €500 million in Myanmar over the next decade. Three years after entering the market, Unilever at present supplies 100,000 stores with personal care products, such as shampoo and toothpaste. Consulting firm McKinsey's May 2013 report predicts that Myanmar's economy could grow from $45 billion in 2010 to $200 billion in 2030, driven by agriculture, infrastructure development, and manufacturing.