17-18 Oct, 2012 - Yangon, MYANMAR
PARKROYAL Yangon
PARKROYAL Yangon
Myanmar will see a $380 million investment by Daiwa Securities Group, in partnership with major Japanese tech companies. Daiwa aims to build the IT backbone for the government. This shows Japan’s ambition to hold a competitive position in Myanmar’s infrastructure development. Takashi Fukai, a President of Daiwa Institute of Research, said in a Reuter’s interview that Panasonic Corp., Toshiba Corp., Hitachi Ltd., NEC Corp., and KDDI have indicated interest in joining the project and providing technology and services. He said, “We’re going into Myanmar in a way that is all-Japan.” The ‘cloud’-based computing system is expected to cost about 30 billion yen ($384 million).
A Daiwa executive said that Daiwa has already been chosen to help set up a local stock exchange, and has been selected by the central bank to draw up plans for the computer network, and is seeking Japanese government aid to offset the cost.
Daiwa and the Tokyo Stock Exchange are also partners in a project to develop a new stock exchange for Myanmar. According to Fukai, a stock exchange would help draw foreign investment to Myanmar and could be up and running by 2015. More than 20 Myanmar Companies, ranging from gas company to agriculture enterprise, were approached by Daiwa to list on the exchange. Fukai estimated a turnover of 1 billion yen if 300 firms were publically traded by 2020. Around 2 billion yen is the estimate of revamping the Myanmar securities exchange, in which Daiwa is a joint venture partner.
Funded by the Japan International Cooperation Agency, Fujitsu and NTT Data have also started a study on Myanmar’s intrabank settlement system.
More in-depth and first-hand details on the New Foreign Investment Law, its implementation guidelines, updates on manufacturing, agents & distributors, telecommunications, oil & gas, infrastructure and investment opportunities in Myanmar will be unveiled at the 2nd New Myanmar Investment Summit, from 16-18 October 2012, in Yangon. Although conference agenda is not finalised yet, Pre-Registration is now underway for those interested in attending. In the meantime, one may forward enquiries to Ms. Hafizah at hafizah@cmtsp.com.sg
Read complete article at Reuters.com
