General Electric has signed a memorandum of understanding with Lighting Co Specialist, a franchisee of Krislite (Singapore), to explore the distribution of GE lighting solutions in Myanmar, its ninth market in Asean.
GE's solutions include LED (light-emitting diode) units for signage, architectural lighting, transport lighting, and display and general lighting.
This week, the company also signed a letter of intention with Partners Associates, a Myanmar provider of integrated technology solutions, to market GE's Durathon storage solutions for the local telecommunications industry to help reduce dependence on expensive diesel fuel and improve mobile connectivity. Unreliable electrical grids, rising fuel expenses, increasing maintenance costs and mounting pressure to reduce generator emissions have prompted mobile-telecom operators to seek out better energy-storage solutions.
"Myanmar is one of the fastest-growing economies for GE in Asean. As the country continues to progress in its reforms, we look forward to increasing our contributions to help meet Myanmar's urgent electricity, healthcare and transportation needs and support the country's future. We have been here since last year when [US] sanctions were lifted," said Stuart Dean, chief executive officer of GE Asean.
"Our entry into the local market has been an encouraging journey to help the country develop its infrastructure. We have made significant progress in our healthcare business with the private and public sectors and in power generation. Today's office opening reflects our commitment long-term to grow with Myanmar and partner with local corporate and government to solve the tough challenges faced in infrastructure development, healthcare, power generation and transportation."
GE is also exploring opportunities to support community initiatives in training and healthcare. Another area of priority is local talent development and helping nurture future leaders to help the country, it says.
GE co-organised a workshop with Parami Energy, a Myanmar energy company, on how to optimise output from power plants in a cost-efficient manner, using GE aero-solutions. About 40 government officials attended the workshop. Myanmar is planning to add 500 megawatts of gas-based capacity as part of an initiative to double national electricity capacity by 2015. Currently, more than 20 per cent of the country's installed capacity is natural-gas-based power generation.
GE in Myanmar is led by its chief country representative Andrew Lee, who is of Myanmar origin and is well experienced in marketing and business development in that country and in the US. Besides its local team, GE appointed Sea Lion as its national distributor in healthcare last year.
GE says it is focused on deepening its presence in Myanmar through local partnerships or collaboration to develop innovative and customised solutions besides capacity building. Myanmar is GE's ninth country in Asean. It has been in the region for more than 100 years, with revenue exceeding US$3 billion (Bt90 billion) and orders of more than $4 billion. The company has a workforce of close to 7,500 in Asean.
