Vice President U Myint Swe holds 29th regular meeting with businesspersons in Yangon
Vice President U Myint Swe, Chairman of the Private Sector Development Committee (PSDC) addressed the 29th regular meeting between this and Myanmar businesspersons held at the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) in Yangon yesterday morning.
In his address the Vice President said that it had been nearly three years since the 20-member committee was formed by Presidential order. The aim was to effectively implement matters in the private sector development framework.
He said that the trade sector played an important role in the development of a country’s economy. The private and public sectors were cooperating towards increasing annual trade volume and during fiscal year 2018-2019 (as of 9 August) trade volume reached US$ 30.038 billion. Private sector participation in this was US$ 25.096 billion or 84 percent.
Recent events in Shan State (North) caused disruption in road transport but the damaged and destroyed bridges were repaired and reconstructed by the Tatmadaw and the Ministry of Construction and the road traffic resumed in five days. This had some effect on border trade and more efforts must be made towards export by sea routes.
Illegal imports through the border were threatening the existence of small and medium enterprises (SMEs) and PSDC has formed illegal trade control and prevention groups in nine regions and states. From September 2018 to July 2019 763 arrests of an estimated K 12.989 billion worth of illegal imports were made.
In order to increase cooperation between union level departments to reduce the rising global illicit trade environment index due to illegal trade, the Illegal Trade Eradication Steering Committee was formed and the first coordination meeting of the steering committee was held at the Ministry of Commerce on 16th of this month. This steering committee was formed with commerce minister of Nay Pyi Taw Council, states and regions to effectively eradicate illegal trade country wide. The people, businesspersons and private sector need to know the increase in and danger of illegal trade and are urged to cooperate, said the Vice President.
Investment figures as of end July 2019 show 1,779 foreign investments investing US$ 81.249 billion while 1,605 local investments invested K 19.049 trillion including US$ 10.352 billion.
Associations and entities participating in today’s meeting were urged to discuss openly the difficulties they face with the relevant Union Ministers, Deputy Ministers and officials who were in attendance, said the Vice President.
Next, PSDC Vice Chairman and Union Minister for Commerce Dr Than Myint explained about border trade routes; difficulties faced; status of trade at Chin Shwe Haw trade station; work status on development of border regions, and improving road transport and services.
Afterwards Union Minister for Industry, Planning and Finance U Soe Win explained about production capacity of state owned enterprises and arrangements made to increase competitiveness in the market; status of establishing Project Bank and the PPP Center.
Yangon Region Chief Minister U Phyo Min Thein then explained about arrangements and coordination made to ease import of raw materials by border trade; works conducted to ease difficulties faced by locally manufactured products; status of establishing agriculture product laboratory and arrangements made for industrial sector development.
UMFCCI President U Zaw Min Win also explained about the status of implementing decisions made at the past meetings, public-private discussions held for private sector development, increasing export and status of sector wise works.
Later Kalay-Tamu Border Trade Merchant Association Chairman U Hla Maung, UMFCCI Vice President and Agriculture, Livestock Breeding and Fishery Development Work Committee Chairman U Ye Min Aung, Myanmar Pulses, Beans & Sesame Seeds Merchants Association Chairman U Tun Lwin, UMFCCI Central Executive Committee member U Ko Ko Gyi and Joint Secretary General Daw Khine Khine Nwe conducted sector wise explanations, discussions and suggestions.
The Vice President, Union Ministers, Yangon Region Chief Minister, Deputy Ministers, Yangon Region ministers, Central Bank of Myanmar Deputy Governor and officials gave comments and inputs to ensure coordination based on suggestions and discussions made at the meeting.
Then the Vice President gave some concluding remarks after which the meeting came to a close.
This committee formed by Presidential order on 24 October 20 to coordinate and resolve difficulties faced by businesses. Five work committees had been formed with relevant Union ministerial departments, Nay Pyi Taw Council, states and regions government members.
Regular monthly meetings had been held with business persons starting from December 2016 and responses to 353 suggestions and issues raised by businesspersons up to the 28th meeting had been sent back to relevant businesses through UMFCCI. Responses included matters that were resolved as well as matters that were still being resolved as it needed time.
Five work committees had arranged public-private dialogues among private businesses and relevant ministries to resolve the matter in stages, it is learnt.
The following persons attended the event:
Vice-Chairman of PSDC and Union Minister for Commerce Dr. Than Myint, Union Minister for Industry, and Planning and Finance U Soe Win, Yangon Region Chief Minister U Phyo Min Thein, Deputy Ministers U Aung Htoo and U Win Maw Tun, Yangon Region ministers, Central Bank of Myanmar Deputy Governor U Soe Thein, UMFCCI President U Zaw Min Win, Vice Presidents and members, officials from 5 work committees, departmental heads, Kalay-Tamu Border Trade Merchant Association Chairman, Myawady Border Trade Merchants Association Chairman, Agriculture, Livestock Breeding and Fishery Development Work Committee Chairman, Myanmar Pulses, Beans & Sesame Seeds Merchants Association Chairman and officials.— MNA
(Translated by Zaw Min)