WEF East Asia 2013: Myanmar opens its doors to the world

After decades of international isolation, Myanmar prepares for a period of rapid growth and development supported by generous natural resources, a large labour force and its strategic location between Asia’s two economic dynamos – the People’s Republic of China and India.

The 22nd World Economic Forum in East Asia is the first leading international gathering of senior decision-makers held in Myanmar after a series of groundbreaking economic and political reforms. The summit offers a unique opportunity to understand Myanmar’s ongoing reforms and reconciliation process. It also heralds the way for Myanmar's chairmanship of ASEAN in 2014, where the country is expected to play a critical role in guiding the 10 member economies of the bloc towards planned economic integration in 2015.

Swiss Re was present in Myanmar's new capital Nay Pyi Taw, Myanmar from 5-7 June 2013, with a three-man delegation, headed by Martyn Parker, Chairman Global Partnerships.

Contributing to development

"Primarily we are here to listen and to learn. We also know that insurance and sound risk management can be a powerful catalyst for growth and prosperity. We're delighted to be able to exchange insights and ideas with senior leaders, at this pivotal time in Myanmar's history, about how insurance can contribute to supporting the country's economic and social development," said Parker.

"Swiss Re is already very active in the Asian region in terms of traditional insurance, but also with regard to more innovative public sector risk solutions, supporting the recovery from natural disasters, as well as enabling food security, financial inclusion and infrastructure development," said Ivo Menzinger, Head Asia Global Partnerships. "We're proud to be one of the first reinsurers to support the fledgling insurance industry in the country."

Potential and protection

"Insurance not only has the potential to attract investment and fast track agriculture, industry and infrastructure projects, but also to offer financial protection to the people and enterprises of Myanmar," concluded Edward Hodgkinson, Head Swiss Re Corporate Solutions, Asia.

Mapping risks: an East Asia context

How can we address top risks in East Asia? Swiss Re Chair Global Partnerhips Martyn Parker joins panelists in the WEF session Mapping risks: an East Asia context. Watch the video below.

Published 6 June 2013

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