The Ministry of Commerce (MOC) will release an overview of a plan to develop e-commerce in Myanmar soon, he added.

“It’s a good time now to pave the way for e-commerce to develop and contribute to the growth of the Myanmar economy,” U Aung Htoo said. “Mobile phone penetration is over 100 percent now so it is a good time to leverage on this for the further development of e-commerce.”

This comes after the government on April 27 announced plans to promote the use of digital and mobile platforms for payments and retail trade under its COVID-19 Economic Response Plan (CERP). The plan encourages e-commerce and also commits support for delivery and logistics firms.

Before year-end, the authorities will launch a central e-commerce website where retail businesses can sell their products online. It will also ensure e-commerce platforms only accept funds through bank transfers, mobile payments or card payments.

“Moving trade online will help to streamline communications between traders and their customers and also encourage customer interaction both locally and internationally. These activities can help drive growth and demand,” U Aung Htoo said.

He added that as most e-commerce is currently done informally, the MOC’s aim will be to create a secure and regulated system for trading on the internet in Myanmar.

U Zaw Min Win, chair of the Union of Myanmar Federation of Chambers of Commerce and Industry, added that with key industries like manufacturing, retail and wholesale, small and medium sized enterprises as well and finance and investment under pressure from COVID-19, “we have to use the internet and technology to make the changes needed for the economy to recover. We urge the plans under the CERP to be implemented quickly,” he said.

U Minn Minn, Director General of Trade Department under the MOC, said the ministry is working on completing the guidelines for its plan to develop a formal e-commerce ecosystem. It also plans to collaborate with the private sector and seek development assistance from other countries and the World Trade Organisation to roll out the plan.

Source: https://www.mmtimes.com/news/govt-commits-developing-secure-ecosystem-e-commerce-myanmar.html