The 31st regular meeting of Private Sector Development Committee with entrepreneurs was held in Yangon

The 31st regular meeting of private sector development committee with entrepreneurs was held at UMFCCI in Yangon on Sunday with an opening speech by Vice President U Myint Swe.

Chairman of the Private Sector Development Committee, the Vice President pointed out that the committee is endeavoring to raise the ranking of the ease of doing business indicators. It is important for the relevant ministers to lessen difficulties and obstacles for the private sector development, he stressed.

The trade volume has reached 35.02 billion USD for 2018-2019 fiscal year - 2.472 billion USD in the private sector out of the 3.03 billion USD in October. Actions were taken against 1,065 illegal trade cases worth about 15 billion USD in 2019.

Vice President, The Republic of the Union of Myanmar, H.E. Myint Swe said “The government has been working for private sector development since 2016 by forming 5 working committees. The Private Sector Development Committee is also carrying out Public-Private Dialogue with ministries and entrepreneurs. The committee is also making efforts for promotion of the Ease of Doing Business Ranking.”

The government is making efforts for the country’s economic development also through private sector development by enacting suitable laws and easing the rules and regulations. Yangon Region Chief Minister U Phyo Min Thein explained about the status of work done by the regional government for opportunity and potential of the private sector development, SMEs sector and foreign investments.

Chief Minister, Yangon Region Government, H.E. Phyo Min Thein said “The regional government is also working on the development of SMEs sector, industrial zone, agriculture zone and also tackling land confiscation cases. Foreign investment can support the private sector development.”   

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

(Myanmar International TV Channel: https://www.myanmaritv.com/news/private-sector-dev%E2%80%99t-vp-addresses-31st-regular-meeting-entrepreneurs )

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