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February 29, 2020

VP U Myint Swe presides over 11th private sector development committee meeting

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Vice President U Myint Swe addresses the 11th Private Sector Development Committee Meeting in Nay Pyi Taw yesterday.  Photo:MNA

Vice President U Myint Swe called for stronger cooperation between public and private sectors in his address to the 11th Private Sector Development Committee Meeting yesterday in Nay Pyi Taw.
The meeting at the Ministry of Commerce was attended by PSDC Vice Chairman Union Minister for Commerce Dr Than Myint, Union Ministers U Thant Sin Maung and U Win Khaing, Union Attorney-General U Tun Tun Oo, Deputy Minister U Maung Maung Win, Central Bank of Myanmar Deputy Governor U Soe Thein, Chairmen and Vice-Chairmen of five work committees, officials from Ease of Doing Business Ranking Promotion Working Group, Permanent Secretaries, directors general, the General Secretary of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, the Chairman of Myanmar Industries Association and departmental officials.
The Vice President, in his capacity as the Chairman of PSDC, said the term of committee has been three years as it was formed on 24 October 2016 with 20 members to implement the five objectives for private sector development, led by three deputy ministers and two permanent secretaries.
The PSDC has passed a total of 87 resolutions, and of which 79 points have been implemented, and the remaining 8 points are being undertaken.
The committee received 369 suggestions from 31 monthly meetings with private firms till December 2019, and these issues have been replied by the relevant ministries, Nay Pyi Taw Council, Region/State governments, five work committees through the UMFCCI. The Vice President urged the officials to increase their momentum for implementations by designing systematic work plans.
A World Bank report listed Myanmar in the top-20 improvers in Doing Business 2020 by six points from 171st place to 165th place out of 190 countries on the index, proving certain improvement of the country. The Vice President also expressed thanks to the relevant organizations and international agencies for the success.
In the report of Doing Business 2020 Report, Myanmar was listed in the top 20 countries for ease of doing business in the five sectors of Starting a Business, Dealing with Construction Permits, Registering Property, Protecting Minority Investors and Enforcing Contracts.
The country remains unchanged in two sectors of Foreign Trade and ‘Settlement of Indebtedness’ and has declined in three sectors of ‘Availity of Loan’, ‘Taxation’ and ‘Access to Electricity’.
Vice President U Myint Swe also advised to implement suggestions for improving ease of doing business in Myanmar in 2020 made by the International Finance Corporation through short, medium and long term plans.
He added the relevant departments are upgrading laws, bylaws, rules and policies to be able to promote Myanmar in the next edition of 2021 Ease of Doing Business Ranking, and these developments should be learnt by other state agencies and private firms for their better cooperation.
Vice-Chairman of the Committee and Union Minister for Commerce Dr Than Myint explained the committee’s works for development of private sector and improving ease of doing business.
Secretary of Committee and Permanent Secretary U Aung Soe explained discussed the implementation of resolutions in the previous meetings.
Ministry of Education Director-General Dr Aye Myint, Deputy Minister for Planning, Finance and Industry U Maung Maung Win, Union Attorney-General Office Permanent Secretary Dr Daw Thida Oo, Permanent Secretary of Ministry of Commerce U Aung Soe, and Ministry of Planning, Finance and Industry Permanent Secretary U Tun Tun Naing discussed the relevant topics. Secretary of Ease of Doing Business Ranking Promotion Working Group and Permanent Secretary U Aung Soe explained the working process of his committee for improvement of each indicator.
Committee members Union Ministers U Thant Sin Maung, and U Win Khaing, Union Attorney-General U Tun Tun Oo, Deputy Minister U Maung Maung Win, CBM’s Deputy Governor U Soe Thein and UMFCCI General Secretary U Aye Win discussed construction of e-Government data centres, electricity supply, legal issues, economic development of the country, foreign investments, financial reforms, loans and supports to private firms.
Permanent Secretary U Aung Soe presented resolutions of the 11th PSDC meeting and the committee approved nine of them.
The Vice President coordinated the discussions and delivered a closing remark on the meeting.—MNA (Translated by Aung Khin)

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