Metro Group has expressed a desire to re-enter South East Asia, according Inside Retail Asia. The German retail giant has revealed plans to launch an operation in Myanmar by the end of the year, citing the country’s economic potential.
“Myanmar is benefiting from opening up politically and has a high growth potential,” Metro chairman Olaf Koch told Inside Retail Asia.
The move comes after Metro sold its cash-and-carry operations in Vietnam to Thailand’s Berli Jucker for US$876m in 2015 following sustained losses in the South East Asian market.
The company is also understood to be considering an entry into the Iranian market after restrictions on western-owned modern retail channels were lifted.