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February 17, 2020

Vice President U Henry Van Thio highlights digital economy roadmap

Vice President U Henry Van Thio delivers the speech at the third meeting of Digital Economy Development Committee in Nay Pyi Taw yesterday.  Photo: MNA
Vice President U Henry Van Thio delivers the speech at the third meeting of Digital Economy Development Committee in Nay Pyi Taw yesterday. Photo: MNA

The Digital Economy Development Committee, with Vice President U Henry Van Thio as Patron, held its third meeting at the Ministry of Planning, Finance and Industry in Nay Pyi Taw yesterday morning.
The Vice President said that the meeting would focus on making the short-term and long-term objectives of the digital economy roadmap more comprehensive. He added that Industry 4.0 had emerged together with the 21st Century digital economic wave and history has shown nations quickly utilizing economic changes receive swift development to their society and economy.
The Vice President said this is why nations all over the world are placing great emphasis on Industry 4.0 and a digital economy, especially so that they would not be left behind in technological development and to maintain sustainable progress.
Developing a digital economy is more than just establishing new tech companies or producing software and hardware for sale. It involves adapting or employing digital technology to existing sectors such as agriculture, livestock, manufacturing and SMEs. It also encompasses promoting digital literacy among the public in order to facilitate better use of information and technology, said the Vice President.
He said the digital economy roadmap is a living document subject to continued improvement. The roadmap contains 6 strategies and 9 priority sectors with goals and action plan for 2020 to 2025, and focuses on converting traditional businesses into tech-savvy startups and incorporating the priority sectors into the economic sector of Myanmar. He said startups need to emerge in every sector and that Myanmar should observe proven technology solutions and adapt them into processes in the country.
The Vice President said while Myanmar may be in the lower 100 tier rank for digital economy, it has managed to rapidly employ 3G and 4G technologies in a short period of time. Mobile sim card usage has actually exceeded 126% and there is a significant proportion of digitally literate youths, he said, adding that Myanmar could learn from those ahead in digital development, adapt and leapfrog in time.
Next, Committee Chairman Union Minister U Soe Win said the Yangon Innovation Center has been opened to nurture young innovators in Yangon and to uplift the nation’s digital economy.
Following this, officials discussed implementation of decisions from the previous meeting, and the ongoing and future processes of action plans of the various subcommittees. Attendees also discussed drafting a master plan based on Myanmar industry 4.0, usage of MM QR Code, and other matters related to digital transformation.
The Vice President delivered a closing speech at the end of the meeting urging attendees to give their best efforts in developing the digital sector of Myanmar.
Also present at the meeting were Union PFI Minister U Soe Win, Deputy Minister U Thar Oo, Deputy Mayor U Ye Min Oo, permanent secretaries, directors-general, and officials from Myanmar Computer Federation (MCF) and Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). — MNA  (Translated by Zaw Htet Oo)

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