Event held to promote Nepal-Myanmar partnership in IT

KATHMANDU, JUNE 3: The Embassy of Nepal, Yangon organized an event “Nepal-Myanmar Trade Relations: Promoting Software Business” at Chatrium Hotel, Yangon, yesterday. The event aimed to promote Nepal’s emerging IT sector – software development and digital services as a potential sector for collaboration between Nepal and Myanmar by bringing relevant stakeholders from Nepal and Myanmar together.

The one-day event comprised two parts. The first one consisted of remarks by the Ambassador of Nepal, the Chief Minister of the Yangon Region, the President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the Deputy Governor of the Central Bank of Myanmar. The program also included a presentation by the Myanmar Digital Economy Association (MDEA), and representatives from the FinTech Alliance highlighting digital services and information technology scenarios in Myanmar and Nepal respectively.

Similarly, the second part consisted of showcasing products and services by Nepali IT companies in the exhibition stalls.

Welcoming the participants, the Nepali envoy for Myanmar, Harishchandra Ghimire, highlighted the objectives of the program and shared the progress made by Nepal’s IT sector in recent years. Commending maturing Nepal’s IT products and services, he mentioned that Nepal’s banking and fintech sectors are fully reliant on solutions developed domestically. Ambassador Ghimire further stated that the Government of Nepal attaches high importance to IT and software production and has recently designated the next 10 years as the IT Decade.

Furthermore, he highlighted the significance of this event in strengthening the Nepal-Myanmar service trade by complementing each other’s IT and Fintech-related products and services for mutual benefit, fostering a network of entrepreneurs, and offering essential services.

Similarly, the Chief Minister of Yangon Region U Soe Thein emphasized the event’s relevance in the modern digital world and congratulated the Embassy team for the initiation. Welcoming the participating Nepali IT companies to Myanmar, he expressed his commitment for facilitating collaboration between IT sectors of the two countries.

In his remarks, the President of UMFCCI U Aye Win commended the progress of the Nepali IT sector on businesses, processes and outsourcing. He underscored that digital transformation is no longer optional but rather critical for the survival of the business. He ascertained that the event would be instrumental in identifying trade service challenges, matching software demand with supply and expanding the potential application of relevant software in the banking, microfinance and remittance sectors of Myanmar.

Speaking on the occasion,  Bhesh Raj Khatiwada, a Nepali expat currently serving as Chief Executive Officer of Myanmar Citizens Bank shared his experience, identified existing gaps in IT and digital service in Myanmar and urged Nepali companies to grasp the opportunities.

Similarly, Mr. Aung Zayar Lwin, Joint Secretary General of UMFCCI and the president of the Myanmar Digital Economy Association (MDEA) emphasized the Myanmar Government’s vision of “Digital Myanmar” and mentioned that Nepali companies can match Myanmar’s demand with their key workforce and competitive development costs.

The representatives from FinTech Alliance highlighted the recent growth of the IT service export (ITes) industry of Nepal, briefly described various services catered by Nepali IT companies, and presented profiles of Nepali IT companies who participated in the event. They also expressed the desire of Nepali IT companies to collaborate to develop appropriate technology for facilitating digital growth in Myanmar.

The Deputy Governor of Central Bank of Myanmar Dr. Lin Aung, the keynote speaker and chief guest of the event, took keen interest in core banking software, wallets, compliance solution, KYC management solution, remittance software, Paying-Receiving API, software Microfinance institutions and Cooperatives, mobile banking software that were showcased by Nepali IT companies.

The major objective of the event was information dissemination among representatives of business circles, IT companies, banks, microfinance and financial institutions of Myanmar. The event also aimed to explore prospects for the expansion of Nepali IT products and services and establish links between relevant sectors of the two countries. Thus, in the event, 13 Nepali companies- BitsKraft Pvt. Ltd., City Express Group of Companies (CityTech), Digital Age Nepal Pvt. Ltd., Inficare P Ltd, Info Developers Pvt. Ltd, imark Private Limited, IMS Software Private Limited, Khalti Pvt Ltd. Products, One-point Financial Services, Silk Innovation, Synergy Tech Software Pvt. Ltd, Techmind Solution and mbank Technologies showcased their products in the exhibition booths.

Officials from Central Bank of Myanmar, the Myanmar Banks Association, private banks, microfinance intuitions, insurance and remittance companies, representatives from UMFCCI, Myanmar Women Entrepreneur Network, and the Myanmar Digital Economy Association were present at the event. Similarly, other attendees were IT companies, entrepreneur groups, and IT professionals. Altogether 200 people from various organizations attended the event.