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             A meeting with the MIC for proposed projects 




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After Myanmar's Banking & Finance Conference held in Yangon and with four years of exponential growth and development, the country has seen international sanctions lifted and opened up to foreign investments which has provided a sense of hope throughout the country. Myanmar is on the high-speed express train, leaving spectators continually speculating the new government's destination. Every industry appears to possess a vision of modernizing and quickly catching up from its decades of isolation and stringent junta regime, but much work still needs to be done. It remains unclear whether the gold rush to Myanmar is a fool’s errand or a commence of International business interest.

Although Myanmar’s banking sector has improved, the CEO of the Myanmar Payment Union reported with optimism: “There are more ATMs in the country and many more to come.” For countries with developed banking systems, having limited ATMs is unimaginable, and this statement alone illustrates the extent to which Myanmar’s economy is cash based as well as the banking sector’s untapped potential.

Principal Consultant of Yoma Bank, Hal G. Bosher, presenting in a panel on the hopes for Myanmar, stated, “If you just look at these six blocks [in downtown Yangon], you see that Myanmar is at the cusp of development [but] for the vast majority of the country simply having a bank account is a feat.”

Other bankers expressed similar sentiments. Senior Executive of KPC & G International and affiliated Capital Market Funding sources Mr Errol Flynn who is not new to Myanmar recommended that new investors seek a due diligence process and advised that the Capital Market sector is now active for funding viable projects in the country.

But the overall message at the conference was positive. Deputy Director General Head of Central Bank of Myanmar stated, “Myanmar has a way to go to fully integrate with the rest of the world and bring the benefits of this integration to its citizens, but it has began the journey towards a brighter future. Our country needs lots of foreign investment particularly in infrastructure and technology.”

With promised exponential growth, bankers and financers are finding it hard to resist a slice of the pie that is the new land of opportunity of Myanmar, the country is expected to become the emerging market of Asia.

The Global Capital Market Network will consider funding for SME projects, joint ventures and debt/equity funding in Myanmar. External Banking Instruments for collateral purposes is also being considered by the Networks.


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