Chemical giant DuPont (DD) announced that it has opened its business operations in Myanmar, which is one of the fastest growing economies. The opening of a new office by DuPont indicates its commitment to meet the growing needs in agriculture, food, energy and environmental protection in the region.
Myanmar is the 8th Association of Southeast Asian Nations (:ASEAN) country and the 19th Asian territory where DuPont has a presence. Myanmar with a population of about 60 million people aims to become one of the world's leading exporters of rice, making the crop as well as agriculture the key growth areas for the country. It has the potential to advance ASEAN's economic growth.
However, Myanmar is facing challenges relating to the development of sustainable and clean energy sources. The country will need to make energy production and efficiency investments.
DuPont Myanmar will collaborate with local partners to offer science-powered solutions in agriculture, food, energy and construction and support community initiatives and local people development. The company will enable farmers to maximize the yield from hybrid seeds through sustainable farming practices, protecting fields against pests and disease, enhancing the nutritional value of food, and reducing waste by packaging food to protect it from contaminants and decay.
DuPont will also deal with the rising demand for secure, environmentally sustainable and affordable energy sources such as solar energy. Over 70% of all photovoltaic solar panels ever made globally use DuPont materials.
DuPont currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the chemical industry include Northern Technologies International Corp. (NTIC), Akzo Nobel NV (AKZOY) and The Dow Chemical Company (DOW). While Northern Technologies carries a Zacks Rank #1 (Strong Buy), Akzo Nobel and Dow retain a Zacks Rank #2 (Buy).