Home » Financial News » Intel Corporation (NASDAQ:INTC) Opens Processors Distribution in Myanmar

Intel Corporation (NASDAQ:INTC) Opens Processors Distribution in Myanmar

The computing technology innovator Intel Corporation (NASDAQ:INTC) has recently announced opening of distribution outlet in Myanmar. The latest development will support the semiconductor manufacturer in strengthening the personal computer division.

The marketing agreement has been signed by Intel Corporation (NASDAQ:INTC) with Ingram Micro Inc, a US marketing company, and Myanmar agent KMD.

The recent development comes at a time following the opening of borders by Myanmar for foreign investors and new goods. Analysts are of the view that the opening of the Myanmar borders to international business will attract major Western companies.

Moreover, in long run, company also intends to initiate a learning program to develop the education system in Myanmar. Teachers and other staff will be trained by Intel personnel to effectively use and operate computers.

According to Intel Corporation (NASDAQ:INTC)’s official statements, on initial basis company doesn’t plan to manage a permanent presence in the country that kept under military control for a long period of time. The education system of Myanmar is currently in a poor state and needs major reforms.

Major technology and computing devices produced in United States and Europe were injected in Southeast Asia through illegal ways. Intel along with other technology companies suffered these markets for a considerable amount of time due to various trade sanctions.

Both the public and private sectors of Myanmar were left unintended to be modernized in the fields of information technology and infrastructure. In order to compete internationally country must be upgraded on international standards.

The emerging consumer market is on the hit list of major US and international companies. Conglomerates like PepsiCo Inc, Coca-Cola and General Electric Company are also considering opportunities to initiate the distribution of their products to officially start business in Myanmar.

Myanmar kept under political and economic rift from the West under cruel military rule for many decades.

Foreign investors are still hesitant to put their money into the country. To eradicate their fears country’s parliament passed a new foreign investment law in November to eliminate restrictions on foreign ownership of joint ventures.

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