August 19, 2016

President says second five-year plan will target economic growth and investment

Myanmar Project Commission Chairman President U Thein Sein chairs second meeting of MPC.
Myanmar Project Commission Chairman President U Thein Sein chairs second meeting of MPC.

THE Myanmar Project Commission (MPC) held its second meeting in Nay Pyi Taw yesterday, with MPC Chairman President U Thein Sein urging the Union government to discuss the draft national project law of the 2016-17 fiscal year for submission to the Pyidaungsu Hluttaw.
The second five-year National Plan from 2016-17 to 2020-21 and the long-term National Comprehensive Development Plan of 2011-31 should serve as a framework for future projects, the president said.
In the first five-year plan from 2011-12 to 2015-16 the MPC prioritised the basic needs of food, clothing and shelter for the public in line with the changing trends of the country, with the president adding that the commission performed is 5 year plan tasks admirably.
The seventh meeting focused on matters to be implemented in the remaining three months before the close of its first five-year plan in the 2015-16 fiscal year as well as the second draft of the five-year plan to be implemented in the tenure of the new government.
The 20-year National Comprehensive Development Plan (NCDP) was framed by the government in partnership with the United Nations Development Programme (UNDP), the Asian Development Bank (ADB) and the Economic Research Institute for ASEAN and East Asia (ERIA).
The NCDP is aimed at increasing the country’s GDP to US$180 billion in 2030-31 and its per capita GDP to $3,000.
The country developed its Comprehensive Development Vision of 2010-35 with the help of the ERIA and its Industrial Development Vision in partnership with the Japan International Cooperation Agency (JICA).
The second five-year plan is aimed at boosting economic growth by encouraging investments in the public and private sectors to ensure higher local productivity through the process of industrialisation.
President U Thein Sein suggested the realisation of public-private partnership in reaching sustainable development goals in key areas of health, education and electricity provision.
National Planning and Economic Development Union Minister Dr Kan Zaw, Electric Power Union Minister U Khin Maung Soe and Agriculture and Irrigation Union Minister U Myint Hlaing spoke on the implementation of the projects by their respective ministries.


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