SPHERE Exhibits partners Singapore Business Federation (SBF) to bring building and construction expertise to Myanmar through an off-shoot of BuildTechAsia (BTA) – BuildTechYangon (BTY).
The Myanmar’s construction industry growth is expected to remain driven by the government”s increasing expenditure on improving Myanmar”s public infrastructure, and the rising interest of domestic and foreign real estate developers on constructing residential units to meet the population”s housing demand. In view of the growing interest for this sector, the Singapore Business Federation is partnering SPHERE Exhibits to co-organise the BuildTechYangon trade show in Yangon to help Singapore businessmen gain a foothold in this fast growing sector in Myanmar.
Supported by key government and industry authorities from both Singapore and Myanmar, the inaugural BTY2014 will be held from 22 to 24 May 2014 at the Myanmar Convention Centre in Yangon.
BTY2014 will focus on building and construction machinery and equipment; building and construction materials; building and construction specific electrical and mechanical engineering; and facilities management. Special attention will also be paid to precast, prefabrication, formworks and scaffolding to address immediate needs that will speed up affordable housing as well as commercial high-rise building construction in view of the growing economy.
With the involvement of the International Enterprise (IE) Singapore, BTY2014 will see a strong Singapore contingent taking up a 500 square meters country pavilion. The Myanmar Construction Entrepreneurs Association (MCEA) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) have also pledged their support and will encourage the local building and construction sector and potential buyers to attend the show to advance their competencies.
Mr. U Tha Htay, Chairman, MCEA, said: “The building and construction industry in
Myanmar can play a part and contribute to the growth and development of the country’s economy. We can facilitate progress in infrastructure development by embracing efficient building and construction technologies and expertise. In particular, precast and prefabrication will speed up housing and commercial building construction and keep cost economical.”
The McKinsey Global Institute estimates that between 2010 and 2030, Myanmar will need to invest $320 billion in its infrastructure to achieve an 8 percent economic growth per annum, with the majority of infrastructure investment (60 percent) in residential and commercial real estate. Some key construction and infrastructure projects in Myanmar include a new international airport in Yangon, the upgrading of 30 of its 69 domestic airports, and the development of special economic zones – Kyaukphyu, Thilawa and Dawei.
Last December, MCEA advisor and former ambassador Hla Maung projected that urban dwellers will rise 35 percent by 2015. As it is, urban residents have doubled since 1980 from 8 casino million to 16 million in Myanmar.
Mr. U Win Aung, President, UMFCCI, added: “The Myanmar Government is actively implementing reform processes and vital plans and programmes for achieving its aim of building a modern industrial advanced developed prosperous nation in the shortest time frame possible. In order to achieve this goal the state is developing the industrial sector simultaneously along with the priority agricultural sector. Needless to say Myanmar’s infrastructure in almost all sectors is weak. Infrastructure development is gaining increasing priority to contribute toward the country’s economic growth and there are vast opportunities for Public-Private-Partnership in this sector”.
Mr. Ng Cheong Yew, Centre Director, Overseas Centre Yangon, IE Singapore, commented: “Myanmar presents immense opportunities for Singapore companies across various sectors, including infrastructure and urban solutions. The recent revisions to the Foreign Investment Law have also provided greater clarity and certainty for foreign investors. While Singapore companies venturing into the market need to be mindful of the fluid business environment, they should also strive to pursue mutually beneficial investments which create value for the local communities, for example through job creation and skills transfer.”
BTY2014 will be featuring over 120 exhibiting brands from China, Italy, Japan, Korea, Malaysia, Singapore and Taiwan, and expecting 3,000 trade visitors. Singapore companies looking to participate in the Singapore pavilion can apply for funding through IE Singapore’s iMAP (International Marketing Activities Programme) which supports up to 50 percent eligible core expenses.
To complement BTY2014, a MCEA delegation was in Singapore for a two-day visit from 5 to 6 March 2014. The delegation of 20 developers and contractors met local authorities and companies to explore business and learning opportunities. They also shared with Singapore companies insights to the building and construction sector in Myanmar in a seminar held on 6 March 2014.