Government and private sector initiate mutually supportive partnership to each other
Government is always ready to
address the challenges and difficulties the private entrepreneurs encounter.
Senior General Min Aung Hlaing stressed
that the UMFCCI should actively work to promote the development of production
and ensure that businesses operate properly with management to maintain fair
pricing and ensure the quality of products.
The Union of Myanmar Federation of
Chambers of Commerce and Industry (UMFCCI) held its 34th annual
general meeting at the National Theatre in Yangon yesterday afternoon, with an
address by Acting President of the Republic of the Union of Myanmar and State
Security and Peace Commission Chairman Senior General Min Aung Hlaing.
In his speech, the Senior General said
that the government and the private sector are mutually supportive partners,
working hand in hand to implement initiatives that promote the nation’s
socioeconomic development.
He noted that as a nation, when formulating
and implementing economic policies, the government studies and evaluates
policies and guidelines that are suitable and adaptable to the changing
circumstances before putting them into practice. In successfully implementing
the established policy processes, the understanding and cooperation of the
private sector play a crucial role.
He underlined that as private entrepreneurs
implement the established policy processes on the ground, the government is
always ready to address the challenges and difficulties the private
entrepreneurs encounter. Likewise, private entrepreneurs can directly report
the challenges and policy-related suggestions through the relevant sectors,
enabling the government to coordinate and make necessary adjustments as
needed.
The Senior General pointed out that
since the private sector will play an increasingly important role in the
future economic landscape, they have to place emphasis on discussing and
providing guidance on how the national economy should be managed based on
fundamental national data, and how regional economies should be conducted
according to differing local conditions.
He highlighted that through the current
dialogue mechanisms between the government and the private sector, effective
implementation of processes — until tangible results are evident in the
nation’s development and public service operations — can strengthen mutual
understanding and foster closer collaboration between the government and the
private sector.
He remarked that in striving to achieve
Myanmar’s long-term, sustainable, and inclusive economic development, foreign
investment plays an indispensable role in strengthening domestic economic
sectors, creating employment opportunities, and facilitating the transfer of
new technologies and international best practices. International friends and
partner organizations can continue to actively collaborate and contribute to
creating a mutually beneficial investment environment in Myanmar.
Regarding trade, the Senior General
emphasized that there are products, onshore and underground mineral resources,
and garment-related products. In utilizing mineral resources, it is necessary
to focus on industries that produce renewable materials, such as timber and
bamboo, as well as water-based product manufacturing.
The Senior General unveiled that a plan
is underway to reduce collection of taxes in the near future. The government is
taking actions to ensure the best outcomes for the national economy, and on the
other hand, it is expected that merchants and industrial and handicraft
associations conduct their businesses properly and correctly.
He urged the UMFCCI to actively work to
promote the development of production and ensure that businesses operate
properly with management to maintain fair pricing and ensure the quality of
products. Reducing poverty within the country is a matter of national
prestige; therefore, to uphold this prestige, collective efforts should be
made to advance the nation’s economic development.
The Senior General spotted that the
UMFCCI is necessary to actively participate and cooperate on behalf of the
private sector, according to relevant sectors and fields, regarding the
nation’s upcoming policies, business processes, suggestions, technologies,
challenges faced, and priority matters that need to be addressed.
He expressed his hope that if the
cultivation targets are fully achieved, an additional US$8 billion could be
earned per year, and if multiple crops are planted, the additional revenue
could reach around US$12 billion. By increasing production and exporting
products abroad, the country would be able to secure sufficient foreign
exchange earnings.
He continued that it is necessary to
ensure the economic development of rural communities and to increase the
output of agricultural products. Industrial and handicraft entrepreneurs should
collectively work to raise the economic standards and improve the living
conditions in rural areas.
Concerning the garment industry, he
underscored that efforts should also be made to achieve further development beyond
the current level. Pawsan rice and coffee already have markets abroad, and
efforts should be collectively made to produce other products that can access
international markets.
The UMFCCI President extended greetings
while the general secretary read the annual report and the financial statement
for 2024-25 financial year.
The Senior General had documentary
photos taken together with UMFCCI executive committee members and guests.
The Senior General viewed round the
booths of the exhibition displayed in commemoration of the UMFCCI 34th AGM.
Also present at the ceremony were
Commission Secretary and Joint Executive Chief General Ye Win Oo, Union
ministers, senior Tatmadaw officers from the Office of the Commander-in-Chief,
the Yangon Region Chief Minister, the commander of Yangon command, deputy
ministers and diplomats. — MNA/TTA
No comments