Investment & Finance

DuPont Starts Myanmar Operations; Eyes Agriculture, Food, Energy

| Vol 2 Issue 11
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Denis Balibouse/Reuters
A DuPont logo is pictured on the EMEA (Europe, Middle East & Africa) and Du Pont de Nemours International SA building in Grand-Saconnex near Geneva.

American science and chemical giant DuPont has started its business operations in Myanmar eyeing to tap the Southeast Asian nation’s agriculture, food, energy and construction sectors.

The company said it aims to address the country’s challenges in feeding the growing population and reducing dependence on fossil fuels.

DuPont Myanmar will focus on strengthening its local presence through collaboration with local partners to offer science-powered solutions in agriculture, food, energy and construction, the firm said. With the move, Myanmar became the 8th ASEAN country and the 19th Asia territory for DuPont.

“Myanmar has one of the fastest growing economies and a promising potential to advance ASEAN’s growth. [The office opening] reflects our long-term commitment in helping meet the country’s needs in agriculture and food, energy and environmental protection,” said DuPont ASEAN Group Managing Director Hsing Ho.

The government has signalled its intention to become one of the world’s leading rice exporters again, making rice crop and agriculture a key growth sector for Myanmar. The country also faces pressing challenge on developing sustainable and clean energy sources.

“DuPont is applying its broad range of scientific knowledge and innovation to address these urgent needs. We believe that no company alone can solve them. We intend to work collaboratively with government, NGOs, academic, customers and business partners to find sustainable solutions,” Hsing said.

“Integrated science can play a critical role in supporting Myanmar’s sustainable growth priorities especially in agriculture, food, and energy,” said DuPont Myanmar Managing Director Sittideth Sriprateth.

DuPont said it aims to enable local farmers through advanced agriculture technologies and practices such as maximising the yield from hybrid seeds, protecting fields against pests and disease, enhancing food’s nutritional value and reducing waste by packaging food to protect it from contaminants and decay.

DuPont claims to put in over 60 percent of DuPont’s total global research and development budget towards agriculture and food.

Sittideth said the company is also poised to address the rising demand for secure, environmentally sustainable and affordable energy sources such as solar energy. “Over 70 percent of all photovoltaic solar panels ever made globally use DuPont materials,” he said.

“We are committed to the collaboration among all public and private organisations and experts across all key industries with an aim to build sustainable growth for Myanmar. We also are exploring opportunities to support community initiatives and local people development,” Sittideth said.

DuPont, established in 1802, has more than 10,000 scientists and engineers working across 150 R&D centres globally. The company racked up $35.7 billion in revenues 2013, and has 63,000 staff in over 90 countries.

Zayar Phyo