Southeast Asia’s economy has borne the brunt of the COVID 19 epidemic, with 18 percent of the region’s small businesses closing during the first wave of the virus. In August, 33.6 percent of micro, small, and medium enterprises (MSMEs) closed permanently due to Covid, with 65.2 percent closing temporarily.
This economic impact can be felt in Myanmar. A survey of 750 businesses in Myanmar, conducted between April and May, found that 76 percent of the businesses surveyed faced sharply reduced operations, with 29 percent ultimately closing.
Yet in the midst of the dramatic downturn, Samanea, a Singapore-based developer of local specialty markets and distribution centers, offers a pathway for businesses to not only survive, but grow. In Yangon, Samanea has assisted tenants with local market research, shipping and logistics, and store set-up.
Samanea Yangon covers a total area of 300,000 square metres. The feature is Samanea Yangon Market, a large-scale trade centre for wholesale and retail of all kinds of manufacture goods.
On the corner of Bago River Road and Yadana Road in Dagon Myothit, Samanea opened the a large wholesale market in Yangon in 2020. The experienced assembled team will work to help businesses continue to thrive in the face of the global crisis by allowing local business owners to sell at wholesales and retails in a brand-new professional market. Such products will include garments, electronic devices, and construction materials.
Construction is one of Yangon’s main industries, and construction businesses and consumers will benefit from multiple home and building materials sold at Samanea. Other industries will benefit from a wide range of industries and trade mix, including industrial electrical appliances, hardware tools, digital home appliances, clothing, footwear, and daily necessities.
Samanea makes its market accessible to all by coordinating with the YRTA for YBS busses to service the area. It is close to downtown Yangon, and Yangon International Airport, for business owners flying in from abroad. There will also be a Kanbawza Bank (KBZ Bank) branch in Samanea Yangon market, allowing tenants and customers to handle financial transactions if necessary.
The market will also assist tenants and consumers from diverse backgrounds in doing business without having to worry about language barriers. Samanea Yangon’s multilingual customer team will feature services in Chinese, English, Burmese or other local languages.
Surrounding the Samanea Yangon Market, tenant warehouses, a business hotel, an office building with a few residential apartments, and the Samanea Yangon Exhibition Centre, are being built to further help boost tenants’ business. All these upcoming projects are set to begin construction in 2021. Close enough to the current businesses and consumers, yet remote enough to build a large-scale, clean, modern market suited for the needs of the local communities.
On the corner of Bago River Road and Yadana Road in Dagon Myothit, Samanea opened a large wholesale market in Yangon in 2020.
“Samanea Yangon Market is committed to improving the quality of the local supply chain. We arelooking forward to the next 10 years of incredible new life together with the people of Yangon.” said by Aung Myo O, the deputy general manager of Samanea Myanmar office.
In a developing country during a pandemic, Samanea has high standards of cleanliness for our modern, state of the art facilities. In September, three employees at a local market in Yangon tested positive for Covid Samanea’s Yangon market is fully committed to keeping staff and consumers safe by following public health best practices like enforcing strict social distancing rules and regular cleaning and maintenance of facilities.