The 29th regular meeting of Private Sector Development Committee with entrepreneurs was held in Yangon

The 29th Regular Meeting of Private Sector Development Committee with entrepreneurs was held at UMFCCI in Yangon on Saturday.

Chairman of the Committee Vice President U Myint Swe attended the meeting and gave remarks. The Vice President pointed out that the committee has solved 353 points reported by the entrepreneurs through UMFCCI since the beginning of the regular meetings with entrepreneurs. He stressed that trade sector plays a major role for the development of country. There are 1,779 foreign enterprises and 1,605 domestic enterprises permitted till the end of July 2019. There is 18 % increase in CMD business export sector; fishery export sector reached 720 million USD till the 30th of March 2019; and 20% increase in tourism sector.

Union Minister, Ministry of Commerce, H.E. Dr. Than Myint said “Transportation in border areas and trade relations between the entities are really important for the country’s development. We notice that illegal trading is making negative impact on the SMEs sector. It can cause damage to the various sectors of the country. We also need to find out solutions for the challenges while having the opportunities and potential at the same time.”

The Trade volume has reached over 30.038 billion USD till the 9th of August for the 2018-2019 fiscal year and the private sector amounts to 25.176 billion USD of the amount.

Union Minister, Ministry of Planning and Finance, H.E. Soe Win said “We’ve resumed collecting pretax for export products of the companies and entrepreneurs who are following the Service Assessment System since the 1st of May this year. We’re also implementing Custom Procedure Trade facilitation for the better economy of the country.”

Yangon Region Chief Minister U Phyo Min Thein, Chairman of UMFCCI U Zaw Min Win also shared the efforts and responsible investment for the county’s development. A series of matters including Kalay-Tamu border trade, Myawaddy border trade, establishment of farming laboratories with foreign investment were discussed at the meeting.

(Myanmar International TV Channel: https://www.myanmaritv.com/news/private-sector-dev%E2%80%99t-vice-president-meets-entrepreneurs-yangon )

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