Govt, UMFCCI collaborate in driving inclusive economic growth for private sectors
December 23
The government and the Republic
of the Union of Myanmar Federation of Chambers of Commerce and Industry
(UMFCCI) have been collaborating in promoting private sector development and
accelerating the growth, Union Minister U Aung Naing Oo of the Ministry of
Commerce gave a remark at the 31st Annual General Meeting of UMFCCI held on 22
December.
This event highlighted the
farewell to the former executive members (2019-2022) and welcomed those elected
members for the 2022-2025 term.
For the 2022-2025 term, the new
President of the UMFCCI is U Aye Win, Thuriya Win Company owner, and seven vice
presidents: U Thaung Tin (KMD Group), U Ye Min Aung (President of Myanmar Rice
Federation), U Aye Tun (Chair of Myanmar Micro, Small and Medium Enterprises
Association) and businesspeople such as Dr Myo Thet, Dr Win Si Thu, U Mya Han
and U San Lin were elected.
Daw Khine Khine Nwe, Secretary of
Myanmar Garment Manufacturers Association, was elected as general secretary of the
CEC. Now, 259 new executive members will lead the federation.
“We have systematically elected
the Executive Committee, Central Executive Committee and Management Committee
for the next three years on 19 November, U Zaw Min Win (2019-2022) elaborated
on the election process.
“The active collaboration with
international organizations can be vividly seen. We are actively engaged in the
activities led by ASEAN. We take part in the Greater Mekong Sub-Region Economic
Forums at present. So, I appreciate the international activities of the
federation. Public-Private partnership plays a pivotal role in the economic
development of the State. The UMFCCI has been fostering connectivity in the
public-private partnership and strengthening the private sector role as per the
economic policies of the State under the different administrations. I notice
the participation of youth in the federation. Young entrepreneurs will drive
the country’s economic development to keep abreast of the development in
foreign countries. That being so, handing over the tasks and capacity
enhancement training are requisite,” the Union minister said.
This year, challenges in banking
and currency in circulation adversely affected every business, prompting UMFCCI
to take a step to discuss with the Central Bank of Myanmar and Myanmar Banks
Association. UMFCCI conducted a series of discussions with those financial
institutions, said U Aye Win, former general secretary of UMFCCI, who also acts
as president of UMFCCI for the 2022-2025 tenure.
There were 51 affiliated
associations in each region and state in the respective industries in the
2015-2016 term. In 2022, the number increased to 81.
Between 2016 and 2022, trainees
were sent to take MA courses under Japanese Grant Aid (JDS), and Master of
Business Administration (MBA) courses with the Young Leaders’ Programme (YLP)
to establish human resource development. Skilled labour courses and in-house
training courses were conducted by the Global MBA Offshore Program by the
University of the Thai Chamber of Commerce UTCC and UMFCCI for over 9,000
trainees. Moreover, UMFCCI’s Myanmar-Japan Centre also produced hundreds of
trainees in business-related courses, U Zaw Min Win, former president of UMFCCI
said at the meeting.
Regarding the financial
development of UMFCCI, fixed assets increased by 12 per cent till March 2022
from 2016. Financial reserves climb every year. Spending it on good purposes
also grew by four folds compared to that of the 2015-2016 Financial Year. —
TWA/EMM
No comments