Since international sanctions were lifted in 2012, Myanmar has established itself as a new frontier market, with potential to become a major sourcing country and consumer market for our customers in the near future. The country’s strategic location between three drivers of global economic growth – China, India and Southeast Asia – makes it one of the most unique emerging markets in Asia. Many corporations turned their eye to glance at the local market. As time goes by, it has been realized that the country poses enough challenges to profit corporations in a few years’ time, and not for present. Lacking infrastructure (software and hardware) is the crucial point of drawing back of Myanmar economy. In fact, Myanmar was ranked 167 out of 189 countries in the World Bank’s ease of doing business banking in 2015, dropped 3 places in 2016 and dropped 4 places further in 2017. In response to alleviating the economy’s pain and developing the local market, in July 2016, Myanmar’s State Counselor, Aung San Su Kyi released the long awaited 5-year economic policy. Although the plan has been critiqued to be vague and unstructured, it addresses the areas, in which the country is interested to increase spending. The fourth point decrees that Myanmar would prioritize infrastructure development, such as power, roads, ports and in concocting digital strategy as well as e-Government system.
Myanmar has signaled its readiness to reintegrate with the world economy through recent socioeconomic growth and improve the standard of living of its population. Myanmar recognizes ICT (Information and Communication Technology) has a key enabler and a priority for socioeconomic development. Currently, the bulk of IT spending lies in hardware sales, which reached $165.9 million in 2015 and has been expected forecasted to reach $ 35.19 million in 2019.
Myanmar is at an interesting crossroad for telecommunications and digital transformation. The recent economic liberation provides a vast opportunity for international vendors to access the market and capture enterprises who are looking to ‘leapfrog’ into new technologies.
On November 14, in an effort to drive awareness and deployment of Information and Communications Technology (ICT) and Internet of Things (IoT) services across public and private sectors, Industry Platform Pte Ltd announces the launch of Asia IoT Business Platform in Myanmar.
Endorsed by the country’s Ministry of Transport and Communications, together with the support of the Ministries of Education, Commerce, and Industry, the conference marks the gathering of key policy makers, government officials, telecommunication operators, solution providers and local enterprises to explore the latest ICT/IoT technologies for business productivity, share case studies of IoT implementation, and establish business partnerships.
Irza Fauzan Suprapto, Director of Industry Platform Pte Ltd, the recent economic liberation provides a vast opportunity for international vendors to access the market and capture enterprises who are looking to ‘leapfrog’ into new technologies.
for telecommunications and digital transformation. While basic ICT infrastructure is being developed and completed, awareness on a digital strategy is crucial for local firms to grow and maximize the potential of ICT and IoT in their operations,” he added. Consultants Mckinsey outlined four areas of priorities to leapfrog Myanmar’s economic developments, including transformation in digital infrastructure; sectoral shift from agricultural to manufacturing; expansion of wellplanned urbanization; and a globallyconnected economy.
Besides keynote presentations by representatives from the Posts and Telecommunications Department, and E-Government Department of the Ministry of Transport and Communications, Asia IoT Business Platform aims to tackle opportunities in the mobile money sector, with the involvement of speakers from Telenor Myanmar, Ooredoo Myanmar, MPTKSGM, KBZ Bank, Yoma Bank, AYA Bank, First Private Bank, and Asia Green Development Bank on the agenda.
“Myanmar is currently the 4th fastest growing mobile money market in the world and a plethora of mobile money services are active. All three of the major telco operators have applied for licenses to operate mobile money services, with two already approved – Telenor’s Wave Money and Ooredo’s M-Pitesan. MPT – the largest telco in terms of subscribers – Mobile Money is expected to be launched soon. The local telcos have used their strong agent network to proliferate adoption of mobile money services in the mould of M-Pitesan,” said Irza.
Case studies and insights on ICT and IoT benefits across industries will be shared by international IoT thought leaders, such as the use of educational technology in higher institutes by the Korea Education and Research Information Service, the role of Intelligent Transport System (ITS) in enhancing road safety and monitoring traffic conditions by Taiwan Area National Freeway Bureau, and how to create a seamless patient journey and real-time information sharing with Healthcare Information Systems (HIS) by Thailand Ministry of Public Health, among many others.
