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Local Engineering Company Signs Franchise Agreement with Malaysian Firm

Source from: Thai Biz Myanmar Business Information Centre, Original Article


Local engineering firm SafeBiz Engi­neering Co. Ltd has signed a franchise agree­ment with Malaysian IPM Engineering Sdn. Bhd on August 11.

The signing ceremony took place at Sedona Ho­tel and was attended by the Managing Directors of both firms as well as rep­resentatives of the Myan­mar Engineering Council and Myanmar Engineer­ing Society.

SafeBiz has been very active in Mandalay, Yan­gon, and Tanintharyi con­struction consulting and related services since its inception in 2015. The company has joined forc­es with its ASEAN neigh­bor to expand its level of technical expertise and better adopt international practices.

“Myanmar’s shift to democracy and an open economy has given rise to a boom in infrastruc­ture and countrywide de­velopment construction. Partnering with an expe­rienced international firm positions SafeBiz to better assist national level con­struction projects with premium quality control and construction safety,” Director Zayar Tin Aye told Myanmar Business Today.

After economic and po­litical liberalization My­anmar companies strived to meet various interna­tional standards, a hurdle for firms with untrained workers. Under the agreement, SafeBiz will send several of its Myan­mar employees to IPM’s headquarters in Malay­sia to receive training in ASEAN and international engineering standards.

“The franchise will be active in early 2018. We are very excited to send staff to Malaysia to re­ceive state-of-the-art in­dustry training,” Zayar Tin Aye added.

“Myanmar has perhaps the largest potential in the common ASEAN market. Development in recent years, liberalization or amendment of outdated laws, and other market indicators lead us to pre­dict a 10% growth in the construction sector from 2017 to 2020,” Ir. Justin Lai, Managing Director of IPM Engineering Sdn, Bhd, said.

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