The 27th Regular meeting of Private Sector Development Committee with entrepreneurs was held in Yangon to implement in cooperation between government and entrepreneurs for the private sector development

The 27th Regular Meeting of Private Sector Development Committee with entrepreneurs was held at UMFCCI in Yangon on Wednesday. Chairman of Committee, Vice President U Myint Swe attended the meeting and gave an opening speech.

Chairman of the Private Sector Development Committee, Vice President U Myint Swe pointed out that the committee has implemented 394 points reported by the entrepreneurs since the beginning of the Regular Meetings. He stressed that it is important to implement in cooperation with the relevant ministers and entrepreneurs to lessen the difficulties and obstacles for the private sector development. 

Vice President, The Republic of the Union of Myanmar, H.E. Myint Swe said “The government has been implementing for private sector development since 2016 by organizing 5 working committee to be effectively implemented for development tasks. The committee is carrying out for Public-Private Dialogue with the ministries and entrepreneurs to be implemented for the private sector development. The committee is also making effort for promoting of the Ease of Doing Business Ranking.”

The Union Minister for Commerce stressed the needs to make for efforts for exceeding the targeted trade volume.

Union Minister, Ministry of Commerce, H.E. Dr. Than Myint said “The export is increased but, it is still high in import sector. We need to try to exceed the targeted trade volume. So, we are carrying out for the promotion in the areas of tourism, services, and agriculture sectors. On the other hand, we are reducing the illicit trading in 9 states and regions. About 9. 113 billion MMK worth illicit goods have been seized till April 2019.”    

Yangon Region Chief Minister U Phyo Min Thin also explained about the status of work done by the regional government for opportunity and potential of the private sector development.

Chief Minister, Yangon Region Government, H.E. Phyo Min Thein said “The regional government organized Yangon Investment Forum on May 10 to attract the foreign investment. We also did surveying and data collection after the forum. The regional government is also doing for the development of SMEs sectors, industrial zone, agriculture zone as well as solving the complaints on land confiscation cases.” 

The entrepreneurs also discussed for the promoting of trade and services, agriculture, export and import sectors as well as public private partnership cooperation.

Vice President, UMFCCI, Thein Han said “UMFCCI do the responsible business promotion by cooperating with relevant ministries and organizations. We need to penetrate the export market as our market is relying on the neighboring countries. But, we hope the opportunity from the Belt and Road Initiative and China-Myanmar Economic Corridor.” 

The Trade volume has reached over 20 billion USD till the 3rd of May for 2018-2019 fiscal years. Among them, the private sector trade volume involved over 17 Billion USD which is about 84 percent.

(Myanmar International TV Channel: https://www.myanmaritv.com/news/economic-growth-vp-attends-27th-regular-meeting-entrepreneurs-yangon )

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