The Ministry of Planning, Finance and Industry (MOPFI) has finalized an agreement with Singaporean firm Infrastructure Asia to help facilitate investment in new infrastructure projects. Under the deal, Infrastructure Asia will help the MOPFI connect and work with developers and financiers to complete outstanding projects listed in the Myanmar Project Bank, an online database of prospective infrastructure investments.
At the signing ceremony, Singapore’s second minister for finance Indranee Rajah said the projects carried out thanks to the partnership would help Myanmar rebuild its supply chains and other business infrastructure damaged by the COVID-19 pandemic. “I am confident that the Singapore infrastructure ecosystem will prove itself to be very useful at this time, being a strong regional hub from which many international organizations operate and deploy expertise and capital into the region, including Myanmar,” the Business Times quoted Indranee as saying.
Infrastructure Asia consults partners with development banks, private companies and governments to broker and oversee joint projects with prospective developers. In recent years, Myanmar has aimed to foster partnerships with foreign banks and entrepreneurs, update its business infrastructure and corporate standards, and generally reinvent its business landscape.