Toshiba Asia Pacific Pvt Ltd, the Singapore-based subsidiary of Toshiba Corporation, a multinational electronics conglomerate recently celebrated the opening of its first branch office in Yangon, Myanmar.
The ceremony was attended by Myint Swe, Chief Minister of the Yangon, and other guests.
Toshiba Corporation in collaboration with KDDI Corporation (Japanese telecom service provider) won an order from Daiwa Institute of Research Ltd (a Japanese consultancy firm) to supply a compact, energy efficient modular data center for the securities exchange system in Myanmar.
The Daiwa Institute of Research and Central bank of Myanmar plan to open securities exchange in Yangon in 2015.
Elated at the opening of the new venture, Hidejiro Shimomitsu, Corporate Senior Executive Vice President of Toshiba Corporation, said, "Toshiba was delighted to have made this new step forward in Myanmar".
He also emphasised that Toshiba will further expand its business interests in Myanmar.
"We hope to contribute to Myanmar's development across our product lines, from infrastructure solutions to home electronics. Our home appliance business in Myanmar started since the 1980s via distributors and our automatic washing machines are still the most popular brand in Myanmar. Toshiba will fully leverage our technological progress and leading edge product capabilities to offer people a better future," he said.
Tetsuya Yoneda, chief representative of Yangon branch office, said, "Toshiba could provide stable power generation and transmission solutions to Myanmar for its stable economic growth."
"Currently, in Myanmar, the power distribution per population is still limited to 25 percent and this is planned to be expanded in the coming years. Toshiba has supplied equipment for Sedawgyi hydropower plant in 1985, and we aim to contribute more to the country's infrastructure," he added.
Myanmar's economy is expected to grow in the near future as the government promotes economic deregulation and attracts huge investment.
Toshiba has immense opportunity to support the economic development of Myanmar while strengthening its business base in the region. By Ravi Khandelwal(ANI)