The IoT Market in Myanmar
When Myanmar opened up to the world after 49 years of military rule, 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 the present. In fact, Myanmar was ranked 167 out of 189 countries in the World Bank’s ease of doing business ranking in 2015, and dropped 3 places by June 2016.
In response to alleviating the economy’s pain and developing the local market, in July 2016, Myanmar’s State Counselor, Aung San Suu 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 and political reforms. These reforms allow Myanmar to achieve strong and sustainable economic growth and improve the standard of living of its population.
Myanmar recognizes ICT has a key enabler and a priority for socioeconomic development. The Framework for Economic and Social Reform, formulated in 2013, sets out policy priorities until 2016, which include the development of mobile telephony and internet.
Among the ICT-related reform objectives are:
Currently, the bulk of IT spending lies in hardware sales, which reached USD 165.9 million in 2015 and has been expected to increase to USD 256.41 million by 2019. In contrast, software spending was USD 19.59 in 2015 and forecasted to reach USD 35.19 million in 2019.
Therefore, there will be opportunities for solution providers and system operators to work with ministries and agencies. With the changing landscape supported by the regulators, enterprises in the local market would need to adapt their business models to compete.
The upcoming 28th edition of Asia IoT Business Platform will be held in Yangon on 15 – 16 November 2018 at Sedona Hotel Yangon.
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The debut of Asia IoT Business Platform 2017 in Yangon, Myanmar will focus on concrete discussions between IoT solutions providers and end-users to address key challenges and pain points in implementing IoT in businesses and organisations in the country. Esteemed speakers from across different industries, both local and international, will be providing insights on issues, challenges, and developments in the IoT landscape in Myanmar.
Sponsorship & Exhibitions Opportunities
Asia IoT Business Platform is a dynamic business program that helps you to understand more about the enterprise IoT market in Myanmar as well as the needs and challenges of your prospective clients and partners. Leverage the program to establish important connections for your business development in Myanmar.
The upcoming 18th edition of Asia IoT Business Platform in Myanmar will bring over 200 senior stakeholders from the Government, telecommunications, manufacturing, logistics, transportation, healthcare, finance, and other vertical sectors to explore the possibility of adopting IoT solutions for their businesses and organisations.