Myanmar’s Rising ICT Sector Promises Export Opportunities For Malaysian Companies
- Kategori: Press Releases 2015
MONDAY, SEPTEMBER 21, 2015, KUALA LUMPUR: Fiffteen Malaysian Information and Communications Technology (ICT) companies positioned themselves early in leveraging on the many green field opportunities in Myanmar’s ICT sector through MATRADE’s recently concluded Specialised Marketing Mission (SMM) held in Yangon from 8-11 September 2015. This initiative registered a promising RM73.08 million worth of negotiated sales and partnership value.
Malaysian ICT companies offering software solutions and services in banking and financial sectors, business services, systems integration, tourism & hospitality, retail and education sector were the most sought after services by the Myanmar clients. The SMM, primarily aimed at increasing exports of Malaysian ICT services, provided a platform for Malaysian ICT companies to find partners, distributors and resellers to establish close business relations in Myanmar. The event saw MATRADE providing business matchmaking, networking and outreach activities to further promote Malaysian capabilities and expertise in this market.
Myanmar’s ICT industry has demonstrated high growth in recent years due to the liberalisation of its telecommunications sector which resulted in issuance of Internet Service Provider (ISP) licenses to foreign entities. Since the liberalisation, more efficient network infrastructures and huge drop in the cost of mobile connectivity has led to exponential business opportunities in ICT services. Market forecasts indicate that the country’s internet penetration rate could rise up to 60% by 2016, currently at 10% of its 56 million populations.
ICT is at the forefront of Myanmar’s economic transformation. According to MATRADE’s Director of ICT Trade and Services Promotion Division, Sharimahton Mat Saleh, “Since MATRADE’s first ICT mission here in 2013, we have observed a huge growth in Myanmar’s ICT sector. Coupled with the excellent ICT solutions developed by Malaysian companies and the benefits of the ASEAN Framework Agreement on Services (AFAS), Malaysian ICT companies are in an ideal position to profit from the growing demand in Myanmar”.
Partnership opportunities in Myanmar are abundant and the long term commitment to foster close business relationship with the right partner in Myanmar is likely. Malaysian companies are advised to visit the market and engage with MATRADE’s trade office in Myanmar to obtain information on this emerging yet competitive market.
