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June 03, 2020

Vice President U Myint Swe addresses at 9th Meeting with Myanmar Entrepreneurs

Vice President U Myint Swe delivers opening remarks at meeting with entrepreneurs.  Photo: MNA

Vice President U Myint Swe, Chairman of the Private Sector Development Committee, attended the 9th meeting between the Private Sector Development Committee and Myanmar entrepreneurs held with a view to easing the difficulties and fulfilling the needs of Myanmar entrepreneurs, at the UMFCCI in Yangon at 9 am yesterday morning, and delivered the opening speech.
Also, present at the meeting were U Kyaw Win, Union Minister for Planning and Finance, U Phyo Min Thein, Chief Minister of Yangon Region Cabinet and Yangon Region Ministers, departmental heads and central executive committee members of UMFCCI and responsible officials.
In addressing the meeting, Vice-President said, “Monthly regular meetings with entrepreneurs for the development of private sector have been being held since 1st December 2016 by sectors, the present one being the 9th meeting. Up to the last 8th meeting, the respective ministries, Region and State Cabinets and working committees have replied to all the suggestions and difficulties presented by entrepreneurs, whereas some cases are still being coordinated as they are closely related to two or three ministries. The Private Sector Development Committee held its meetings once every two months, now reaching 4 times. Working committees which took the responsibilities of 5 Panels held their meetings once a month, having held meetings for 38 times.”
The Vice-President added, “The State has been exerting its efforts for the national economic development in every way. In the present financial year foreign investments reached US $ 3500 million, increasing considerably compared to that of the previous year—US $ 400 million. As for the investment of Myanmar citizens as well, it reached K 1275 billion in the present financial year, exceeding by a large margin that of the last year—K 109 billion. Regarding the investments in Regions and States, Yangon Region reached 80 percent with Bago Region reaching 11 percent only.
Efforts need to be made in every way for the investments to enter Regions and States proportionally. As Region and State Investment Committees had been formed and assigned respectively, the said committees are implementing to issue approval orders to enterprises with the capital investment under US $ 5 million or K 6000 million. Now due to restriction of India’s import policy over Myanmar’s pulses—mung beans, green gran and toor whole, bilateral negotiations are under way to solve the difficulties of Myanmar beans and pulses merchants. Private entrepreneurs need to openly discuss their difficulties and give suggestions.”
Afterwards, Union Minister for Planning and Finance U Kyaw Win, Yangon Region Chief Minister U Phyo Min Thein and UMFCCI Chairman U Zaw Min Win explained the situations on the achievements in various sectors for private sector development.
The meeting came to a conclusion after the closing address by the Vice-President. —Myanmar News Agency

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