December 15, 2016

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Govt takes pragmatic approach to development through framework of economic and social reform: President U Thein Sein

President U Thein Sein delivers speech at meeting of Central Committee for Management of Foreign Aids and Grants.
President U Thein Sein delivers speech at meeting of Central Committee for Management of Foreign Aids and Grants.

SINCE its inception in 2011, the government has taken pragmatic approaches to national development by laying down a framework on economic and social reform, President U Thein Sein yesterday told the meeting of the Central Committee for Management of Foreign Aids and Grants.
“We have gradually and systematically laid a firm foundation for democratic reforms in the political, economic, social, executive and managerial settings while giving encouragement to the development of the private sector.”
The president said that international aids and grants have contributed a lot to the country’s development projects.
The successful democratic reforms enabled the country to earn recognition by the United Nations Development Programme (UNDP) in 2012 and as a consequence humanitarian aid and development aid are in place again.
As part of the strengthening of cooperation with international organisations, the country organised its first development cooperation forum in 2013 in Nay Pyi Taw and released the Nay Pyi Taw Accord, with similar forums taking place in 2014 and 2015.
Official development assistance includes low-interest trade, commercial loans and community development loans under the Generalised Scheme of Preferences (GSP).
President U Thein Sein expressed his gratitude to international organisations for their assistance to the states and regions hit by floods and landslides in July and August in 2015.
Union Ministers U Soe Thane, Dr Kan Zaw and U Win Shein spoke on the management of foreign loans and ongoing development projects.
In his remarks, President U Thein Sein called for the establishment of support groups in a bid to ensure stability and peace, an end to armed conflicts and the development of social structure.

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