21 June 2019
Ministry of Commerce and Union of Myanmar Federation of Chambers of Commerce and Industries (UMFCCI) jointly conducted a seminar titled “Transformation to Digital Economy: Opportunities & Challenges” on Friday in Yangon.
The seminar aims to share knowledge and ideas for the upcoming opportunities and challenges of the Digital Economy in Myanmar and to be ready for it while the forming process are being made to be established Digital Economy Association in order to boost digital economy including e-commerce sector in Myanmar.
Member, Central Executive Committee (UMFCCI), Thaung Su Nyein said “In Myanmar, we should need to change our economy system from traditional to digital forms to be ready for the future country’s economy. So when we transform to digital economy, we may face many challenges. That’s why we will establish Digital Economy Association with the support of the Ministry of Commence to tackle the problems of e-commerce sector, to protect consumer rights and to help the e-commerce businesses. We will also invite to all digital, e-commerce and online shopping businesses as well as digital media enterprises to become a member of the association.”
Myanmar is one of the fastest growing countries in smart phones and internet usage. As internet and social media are trendy in the country, e-commerce platforms are also getting popular in online shopping, delivery services and other e-services. But there are no official focal departments or associations, law and policy to handle them.
Deputy Director, Department of Trade (MOC), Myo Khing Win said “As telecom infrastructures and mobile penetration rates are getting higher in Myanmar, we have many opportunities to transform into digital economy meanwhile policy and regulations for the e-commerce sector as well as payments system are the main challenges for us. We are also carrying out to lay down the policy and regulations for the e-commerce sector. Now, we are also planning to collect a list of online shopping and e-commerce businesses on social media to have manual trust between the sellers and customers.”
At the seminar, panel discussions on the “Digital Transformation Journey Experiences” and “Payments for Digital Economy” as well as presentation panel for “Transformation to Digital Economy- Opportunities & Challenges” were conducted by the professionals from the e-commerce industry.
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