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June 03, 2020

EITI practice to contribute to tax reform system relating to natural resources

Union Minister U Soe Thane highlights important role of Extractive  Industries Transparency Initiative at Conference on Natural Resource  Governance in Myanmar.
Union Minister U Soe Thane highlights important role of Extractive Industries Transparency Initiative at Conference on Natural Resource Governance in Myanmar.

The Conference on Natural Resources Governance in Myanmar took place at Myanmar International Convention Centre in Nay Pyi Taw on Thursday.
Chairman of Extractive Industries Transparency Initiative (EITI) of Myanmar Committee Union Minister at the President Office U Soe Thane said that Myanmar is to submit the EITI work report in 2016. It is necessary to lay down sound foundations for sustainable development of EITI tasks. He stressed the need to take responsibility and accountability for EITI sector. While giving priority to long-term development of economy, the country must try hard to reduce utilization of natural resources in doing businesses.
EITI Chairman Ms Hon Clare Short said that EITI tasks will be undertaken in four states of Myanmar. She expressed her opinion that natural resources are to be used for the people and it is necessary to systematically manage incomes obtained from natural resources so as to improve living standard of the people.
Chairman of Myanmar EITI Tripartite Group Deputy Minister for Finance Dr Maung Maung Thein and party discussed implementation of Myanmar EITI process, and Managing Director Daw Hla Hla Kyi of Myanma Petrochemical Enterprise and officials reform experiences of State-run corporations, management of future fund for natural resources.
Myanmar EITI Director Economic Adviser to the President Dr Zaw Oo and Head of the UK Department for International Development in Myanmar Mr Gavin McGillivary explained future tasks.
Government officials are urged to protect the civic organizations in implementing the EITI tasks to be free from disturbances and threats. Knowledge dissemination about EITI tasks are to be carried out for enabling the people to know information on natural resources.
Practising EITI will attract foreign investment and build the trusts among the government, companies and people. It can contribute towards acceleration of tax system reform process concerning the natural resources.

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