The first and largest specialty chemicals company in Thailand, Sika, is planning to enter Myanmar’s construction sector, sources say.
The company applied to the Directorate of Investment and Companies Administration (DICA) to open a branch office in Myanmar and the DICA approved its proposal on October 4.
Sika (Thailand) was founded in 1989 and is now a public company. The company has produced many kinds of construction materials and International Organization for Standardization (ISO) certificates.
With a head office in Switzerland, Sika does business with 80 countries in the African, Asia-Pacific, American and European regions.
This year, the Myanmar Investment Commission has approved proposals by companies from Singapore and the United Arab Emirates for construction sector projects such as hotels, office apartments and office buildings.
Total investment by foreign companies has exceeded US$37 million (Ks 36.03 billion) in the construction sector. Although foreign investment has been lower than expected, local investment has increased, sources say