Japan’s Scala allies with ACE Data Systems in education, agriculture business in Myanmar
BANGKOK, NNA - Scala Inc., a Japanese information technology firm, has set up a joint venture with local partner ACE Data Systems Ltd. in Myanmar to support digital transformation and create business opportunities in the fields of education, healthcare and agriculture in the country.
The venture, Scala ACE Co., was established with $500,000 of capital in the MICT Park in Yangon where many IT companies are located. Scala and ACE Data Systems, one of the largest IT system development firms in Myanmar, each have a 35 percent stake in the venture. The remaining 30 percent is held by undisclosed investors.
“The joint venture’s activities will also include the incubation of new businesses in sectors like healthcare technology and agriculture technology in order to contribute to sustained economic growth in Myanmar,” Scala said in a press release Thursday.
Scala said that despite recent rapid industrialization, Myanmar still faces issues such as weak infrastructure for living standards, healthcare, education and industry. The country also has a shortage of foreign exchange reserves.
The Tokyo-based firm opened a branch office in Mandalay in December 2018 and this year made an investment in local remote healthcare service provider MyanCare Co.
For the new joint venture, Norikatsu Nagino, Scala’s president, has become managing director while U Thein Oo, the founding chairman of ACE Data Systems, who also serves as a representative of the Myanmar Computer Federation, takes up the position of honorary chairman.