Quality Infrastructure Development Contributes to Myanmar's Sustainable Economic Growth

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Pama
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Quality Infrastructure Development Contributes to Myanmar's Sustainable Economic Growth

Post by Pama » Tue Oct 24, 2017 9:24 am

High-quality infrastructure will play an essential role in realizing economic growth and unlocking Myanmar's true potential. The important role of quality infrastructure development and Japan's indispensable role in Myanmar's sustainable development were the main theme of discussion at the "Dialogue for Quality Infrastructure -- Building Asia's Future," hosted by the Government of Japan.

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While the event was attended by about a hundred participants, active discussions were held on what kind of quality infrastructure is needed for Myanmar's sustainable development and how Japan can play an important role.

Councilor Kazuyuki Takimi at the Embassy of Japan in Myanmar stated in his opening remarks on behalf of the Government of Japan that "quality infrastructure is the principle for developing countries to develop appropriate infrastructure within limited resources." He also said, "We will continue to contribute to Myanmar's infrastructure development with Japan's wealth of experiences, technologies and know-how of quality infrastructure, like the past experiences in the projects of Baluchaung No.2 Hydropower Plant and Thilawa
SEZ."

Representing the Government of Myanmar, Mr. Aung Naing Oo, Director General, Directorate of Investment and Company Administration, Ministry of Finance and Planning Myanmar, welcomed Japan's contribution to the country's development, adding: "We recognize that quality infrastructure development is important for encouraging foreign direct investment to Myanmar."

Following the opening remarks, Mr. Satoshi Takesada, Senior Manager of PwC Singapore, set the day's agenda with a presentation on "Important Points for Sustainable Economic Growth in Myanmar." Stressing the importance of a long-term perspective, Mr. Takesada highlighted the important role of quality infrastructure to encourage foreign direct investment which leads to sustainable economic growth in Myanmar.

During the dialogue, Myanmarese and Japanese panelists also discussed the role of quality infrastructure in Myanmar's sustainable economic growth. Moderated by Mr. Yasuhiko Ota, Columnist of Nikkei, the discussion covered preferential infrastructure projects as a driver for economic development, the role of quality infrastructure in Myanmar's sustainable economic growth, and the importance of contribution by the Japanese public and private sectors to realize Myanmar's development plan.

Mr. Aung Naing Oo, Director General, Directorate of Investment and Company Administration, Ministry of Finance and Planning Myanmar, said that bringing foreign private investment in the country is essential not only to develop but also to maintain infrastructure. The Myanmar government is trying to support private companies to come into the market by making new laws and systems. Mr. Ken Tun, CEO, Parami Energy Group, emphasized from a local business aspect that although the initial cost of quality infrastructure may be high, the people in Myanmar should consider the benefits rather than the cost. He expressed the importance to think of what type of infrastructure would bring far more economic benefits.

Mr. Mitsuo Ido, Chief Representative for Myanmar, Mitsubishi Corporation, said that the Thilawa SEZ was a good example to support foreign companies' investment in the country. The sustainability of resources for the place, such as clean water, electricity, transportation, etc., must be secured to run business safely and sustainably, which is important to decide our investment.

Takeshi Nakano, Director, Trade Promotion Division, Trade and Economic Cooperation Bureau, Ministry of Economy, Trade and Industry, said in additional remarks to the discussion that FDI is a key driver for sustainable economic development and infrastructure which can attract foreign companies is essential. He said that Japanese quality infrastructure can provide many benefits to the country, including reliable operation, economic efficiency in view of life-cycle cost, safety, resilience against natural disaster, job creation, capacity building, and transfer of expertise for local communities. He also stressed that from early planning stages it was very important to take into consideration life-cycle cost and ease of maintenance in the context of long-term operation. He noted that the key to success is expansion of employment through private-sector investment and human resource development and that Japan will promote responsible investment that improves the standard of living for the Myanmar people by working together with the government of Myanmar and the private sector from both countries.

As summed up by the moderator, participants agreed and concluded that "reliable and stable infrastructure development which would encourage foreign direct investments, and quality infrastructure development from a long-term perspective, is the key to its future, and partnership with Japan could be indispensable to the country."

Following the panel discussion, Mr. Nobuhisa Kobayashi, Executive Officer, Tokyo Gas Co., Ltd. expressed an opportunity to install LNG infrastructure, and showed the company's intention to contribute to Myanmar's development with its abundant experience.

Program:
- Opening remarks by the host:
Councilor Kazuyuki Takimi, Embassy of Japan in Myanmar
- Speech by the guest of honor:
Mr. Aung Naing Oo, Director General, Directorate of Investment and Company Administration, Ministry of Finance and Planning Myanmar
- Agenda: Dialogue for Quality Infrastructure, Building Asia's Future.
Mr. Satoshi Takesada, Senior Manager of Price Waterhouse Coopers Singapore
- Dialogue: Opportunities and challenges related to infrastructure development for Myanmar's Sustainable Growth.
- Panelists:
Mr. Aung Naing Oo, Director General, Directorate of Investment and Company Administration, Ministry of Finance and Planning Myanmar
Mr. Mitsuo Ido, Chief Representative for Myanmar, Mitsubishi Corporation
Mr. Ken Tun, CEO, Parami Energy Group
Takeshi Nakano, Director, Trade Promotion Division, Trade and Economic Cooperation Bureau, Ministry of Economy, Trade and Industry, Japan
- Moderator:
Mr. Yasuhiko Ota, Columnist, Nikkei
- Presentation:
Mr. Nobuhisa Kobayashi, Executive Officer, Tokyo Gas Co., Ltd.; Managing Director, Tokyo Gas Asia

For more information, please visit: http://www.japan.go.jp/infrastructure/

SOURCE: The Government of Japan

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