Interview:U Kyaw Win What are the main obstacles to the successful implementation of the Public Finance Management (PFM) Reform Strategy? U KYAW WIN: Myanmar’s PFM Reform Strategy underscores the government’s strong commitment to continuing reform by addressing challenges the country has faced over recent decades. To strengthen institutional capacity, the government is implementing a number…
Interview:U Bo Bo Nge How do you expect the modernisation of the payments sector to drive greater financial inclusion? U BO BO NGE: For the first time, the CBM installed a high-value payment system for those with account relationships with us. This system has operated smoothly since January 2016, handling large-value interbank payments in real time. The retail payment system using debit cards…
Interview:U Phyo Min Thein What are the key ways to improve Yangon’s basic infrastructure and traffic management? U PHYO MIN THEIN: We are working to improve the quality of life of our citizens by finding the right balance between economic development and the expansion of Yangon, as well as the preservation of the city’s green land and historic heritage. To accomplish this the regional…
Interview:Mai Trang Thanh Which sectors are ripe for foreign investment? MAI TRANG THANH: Economic and political reform has captured the attention of foreign investors. With a young population, one of the largest landmasses in South-east Asia, vast natural resources and a GDP of about $66bn, the country is an exciting and dynamic frontier market with a variety of business opportunities. Honeywell…
Interview:Daniel Michener, CEO, Burst Myanmar What are the strategic advantages of conducting business in the Thilawa SEZ? DANIEL MICHENER: Thilawa offers unique conditions for investors looking to expand their businesses in Myanmar. First, the SEZ boasts very solid infrastructure, which was built with Japanese construction standards as its guiding principle. Given the high standards for which…
Interview:Ken Tun In what ways can the country more effectively provide electricity to its rural population? KEN TUN: Myanmar urgently needs electricity. Today only 3m households out of some 10m have access to the power grid. Under the National Electrification Plan, the World Bank has set out to deliver electricity to the remaining 7m households in the next 10 years by expanding the central…
Interview:Liman Zhang What reforms are needed to support the development of the ICT industry in Myanmar? LIMAN ZHANG: Despite the significant progress of the past few years, Myanmar is still considered a starter country in terms of its digitalisation. Different stages of development call for a different set of reforms, and should focus on adopting reforms in three key areas: infrastructure,…
Interview:U Thein Win Zaw How will the participation of foreign companies and investors affect the distribution and sale of petroleum products in the domestic market? U THEIN WIN ZAW: The sector has undergone some important changes in the last decade. In 2010 the government privatised the ownership of petrol stations, with Myanma Petroleum Products Enterprise (MPPE) transferring its 216 gas…
Interview:Daw Ei Phyusin Htay What is the best strategy to electrify Myanmar’s rural and most remote areas? DAW EI PHYUSIN HTAY: Given the low availability of funding and some regulatory problems affecting power generation and transmission, we cannot let rural communities wait any longer. The government, and sector players, need to be creative and consider new, cost-efficient and reliable…
Interview:Chen Bo In what way will Myanmar take advantage of China’s Belt and Road Initiative (BRI) to develop its transport infrastructure? CHEN BO: The BRI initiative is an ambitious project that looks to improve connectivity at a global scale, with China at its epicentre. The initiative aims not only at connecting the country with its South-east Asian neighbours, but also at improving…
