ABB, Zurich, Switzerland, inaugurated its first new office in Yangon, Myanmar, after an absence of 20 years. The office will allow ABB to make power and automation solutions available to customers in Myanmar and is the first step toward establishing a service organization in the country.
ABB cites Myanmar’s growth as a reason for the expansion. Myanmar’s gross domestic product has risen by an annual average of 7.3 percent since 2012, while this year, foreign direct investment is expected to grow 6.8 percent from $2.7 billion.
In addition to the new office, ABB has signed a letter of intent with Yangon Technological University to donate demonstration units for its power systems laboratory. ABB also will recruit a number of local engineering graduates for its regional graduate trainee program.