UMFCCI Sets Reform Agenda, Urges Shift to High-Value Economy

THE Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry is currently drafting a set of recommendations on fu­ture economic development to submit to the new government, in order to move towards its intended strategic directions, according to its President, U Aye Win.

He made these remarks during his opening speech at the Second Executive Commit­tee Meeting of the federation, which was held in hybrid for­mat at the UMFCCI Mingala Hall on the afternoon of 19 March.

The President also stated that, in response to changing global conditions, the federa­tion must shift from a tradi­tional networking approach to one that aligns with the new economic landscape and strengthens supply chain re­silience.

He further explained: “This is a period of transi­tion for our country, a time to turn a new page. At the same time, both global geopolitics and geo-economics are un­dergoing significant changes. Therefore, during our current term, national reconstruction and the survival of the private sector are the most important tasks. To support this, a deci­sion was made at the Central Executive Committee meet­ing to amend the federation’s constitution so that it is in line with current circumstances. In accordance with that decision, all necessary actions have al­ready been carried out.

Given the ongoing global changes, many Chambers of Commerce in ASEAN coun­tries are shifting from tra­ditional trade facilitation to­wards supply chain resilience and further towards digital integration,” he said.

In this context, he added that the federation must also move beyond traditional net­working to adopt approaches that are compatible with the real, evolving economic envi­ronment, including strength­ening supply chain resilience. Referring to remarks made by the Head of State at the Myanmar New Face Forum held on 13 March at the Myan­mar International Convention Centre I in Nay Pyi Taw, he noted that preparations must be made to transition from an eco-based economy to one that enhances production ca­pacity, promotes high-value processing, and builds resil­ient supply chains. — Htun Htun/KNN