Collaboration Agreement between Infrastructure Asia and the Ministry of Planning, Finance and Industry (Myanmar) to Advance Implementation of Infrastructure Projects in Myanmar
Infrastructure Asia entered into a Collaboration Agreement with the Ministry of Planning, Finance and Industry (Myanmar) on 27 May 2020 to advance the implementation of infrastructure projects in the Myanmar Project Bank.
COLLABORATION AGREEMENT BETWEEN INFRASTRUCTURE ASIA AND
MINISTRY OF PLANNING, FINANCE AND INDUSTRY OF MYANMAR
TO ADVANCE IMPLEMENTATION OF INFRASTRUCTURE PROJECTS IN MYANMAR
1. Singapore’s Infrastructure Asia (“Infra Asia”) entered into a Collaboration Agreement with the Ministry of Planning, Finance and Industry (Myanmar) (“MoPFI”) today to advance the implementation of infrastructure projects in the Myanmar Project Bank 1. The Myanmar Project Bank contains prioritised investment initiatives that have been pre-screened to ensure alignment with the Myanmar Sustainable Development Plan (MSDP). Infra Asia and the MoPFI will jointly identify selected priority projects for potential private sector participation.
2. Through Infra Asia’s network of Singapore-based international partners, the collaboration will facilitate the technical and institutional knowledge sharing, financial structuring and procurement process required to appoint private sector partners for the selected priority projects. This includes:
- Sharing of best practices and institutional knowledge to structure and improve bankability of projects;
- Identifying and connecting suitable investors, financiers, professional services and/or technical solution providers to support project preparation and execution; and
- Assisting in the appointment of transaction advisors to carry out the procurement process of each identified project.
3. The signing of the Collaboration Agreement was held through a digital ceremony witnessed by Ms Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Education and Second Minister for Finance, Republic of Singapore and U Soe Win, Union Minister, Ministry of Planning, Finance and Industry, the Republic of the Union of Myanmar.
4. Said Mr Seth Tan, Executive Director, Infra Asia, “Myanmar has introduced new approaches and framework to accelerate the expansion of public infrastructure projects. There are now more opportunities for private sector players to consider investments into Myanmar. Infra Asia is glad to be part of the process to shape and bridge more collaborations at the public and private level."
5. Said Ms Thway Thway Chit, Director General of the Planning Department, MoPFI, “the Myanmar Project Bank is a whole-of-government platform facilitating the effective, coordinated and transparent identification and financing of major investment projects in Myanmar. The web portal of Myanmar Project Bank, as an interactive, web-based, publicly accessible database, will be regularly updated and upgraded to include a comprehensive list of nationally strategic infrastructure. MoPFI looks forward to our partnership with Infra Asia to catalyse priority infrastructure projects in Myanmar.”-- 1 More information on the Myanmar Project Bank can be found on https://projectbank.gov.mm/en/
For media enquiries, please contact:
Ministry of Planning, Finance and Industry
Deputy Permanent Secretary, MoPFI
DID +95 67 3410046
Foo Xiao Xuan
Business Partner Corporate Communications, Enterprise Singapore
DID: +65 6433 4400
About Ministry of Planning, Finance and Industry of Myanmar
Ministry of Planning, Finance and Industry of Myanmar is the focal government ministry in the formulation and compilation of national development plans, annual national budgets and national industrial policies. The ministry is responsible for the formulation and promulgation of the Myanmar Sustainable Development Plan (MSDP) (2018-2030), the overarching national development plan for the Republic of the Union of Myanmar. The ministry is also playing a leading role in the establishment and implementation of Myanmar Project Bank, an interactive web-based, publicly accessible database that includes national priority projects under the ambit of the MSDP and its Strategic Action Plans. Under its organizational umbrella, the ministry has the distinction of hosting Myanmar’s Public-Private Partnership Center (PPP) to promote high-quality, transparent and competitive PPPs with the objective of ensuring better quality public services. The ministry fully recognises the role of the private sector as the primary engine of economic growth and job creation by prioritising market-based solutions.
Infrastructure Asia aims to support Asia’s social and economic growth through infrastructure development. Infrastructure Asia was established by Enterprise Singapore and Monetary Authority of Singapore to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering, harnessing Singapore’s best-in-class infrastructure ecosystem (international developers, engineering and professional services, along with financial institutions and multilateral development entities). It also works with global players in the regional infrastructure ecosystem and leverages the collective capabilities and networks of various government agencies to catalyse more trade and investments into infrastructure in the region.