Crystal Jade restaurants are headed to Myanmar after a franchise agreement signed between Singapore Myanmar Investco (SMI) and Crystal Jade Management Vietnam.
Crystal Jade Group has more than 100 outlets in 20 cities in the Asia Pacific region and the US.
Under the terms of the agreement, SMI will have the exclusive right to develop, manage and run the Crystal Jade Kitchen, Crystal Jade Palace Restaurant and Crystal Jade La Mian Xiao Long Bao restaurants in Myanmar for 10 years, with the option to extend for a further 10 years.
The first Crystal Jade Kitchen outlet is expected to open in the third quarter of this year at the new Yangon International Airport Terminal 2, while a Crystal Jade Palace restaurant is expected to launch at the Sedona Hotel Yangon later in the year.
Further ahead, the group expects to open another two Crystal Jade Kitchen restaurants in 2017 and in 2018.
SMI manages the duty-free retail space in the new Yangon terminal.