Pagoda Spires. Myanmar has called for increased tourism

At the recent Communities and Tourism Conference in Nay Pyi Taw, representatives from six community tourism initiatives shared their experiences.

The main findings from the conference are that projects struggle to market their services and products, and it’s having a negative effect on community tourism.

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Pagoda Spires. Myanmar has called for increased tourism

There is a growing army of young entrepreneurs using smartphones and FinTech to provide services to tackle Myanmar’s issues. These issues range from high mortality rates to heavy traffic, and lots of things in between.

In September 2016, Htun Khaing Lynn (Zack) started up an online truck-pooling system called Kargo. The service connects businesses and individuals who need to move stuff around the congested streets of Yangon.

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Yangon at dusk. Htet Tayza discusses Myanmar. Image by mydaydream.

It may sound unlikely, and like something from the future, but for farmers in Myanmar, new technology is changing their lives.

While 3D printers have become more common across the world, it’s not the first piece of equipment you might expect to find in the fields that surround Yangon. Amid the mud and rural landscape, it seems that 3D printing technology is helping struggling farmers turn their business around.

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Pagoda Spires. Myanmar has called for increased tourism

Myanmar is in the process of developing, updating and improving its transport infrastructure. At a recent conference organised by the British Chamber of Commerce Myanmar and Baker McKenzie, the international law firm, various options were discussed.

The conference, called “Myanmar: Moving Ahead Perspectives on Developing Transportation Infrastructure”, was held in Yangon on 26 May with the aim of discussing the challenges facing Myanmar’s transport sector.

At the conference, experts advised that Myanmar adopt a PPP (public-private partnership) model in order to expedite the development.

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Yangon at dusk. Htet Tayza discusses Myanmar. Image by mydaydream.

Myanmar is developing rapidly and in every sector the digitalisation of the nation continues. While this continues apace, at the moment, many people just don’t have access to the internet at all. Improving access to the internet will remain the main priority for the government as Myanmar marches into the future.

The government have pledged to supply affordable and reliable internet communication between cities and the most remote villages in the country.

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Pagoda Spires. Myanmar has called for increased tourism

There has been investment and interest in Myanmar from all across the globe, as you’d expect for what is arguably the leading market in Asia. As well as interest from the traditional banks, FinTech is also knocking on Asia’s door, and as in other regions, is set to change the face of the finance sector.

Financial technology is the future for all emerging financial markets, as technology becomes more and more ubiquitous in every aspect of our lives – on a personal and business level. There are more and more FinTech investment deals occurring within Myanmar, strongly suggesting that it’s a booming industry.

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Image of a smartphone in use. Htet Tayza discusses mobile payments

The state-owned Myanmar Posts and Telecommunications (MPT) company recently announced that it will soon be ready to roll 4G internet out across Myanmar. By providing faster internet, MPT could boost financial inclusion in the country, allowing Myanmar to rack up greater economic expansion.

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