Myanmar will work together with all ASEAN family members to become more connected and integrated

November 12, 2017

The following is the address delivered by State Counsellor Daw Aung San Suu Kyi at the ASEAN Business and Investment Summit held in Manila, the Philippine, on 12 November.

Excellencies, ASEAN Economic Ministers,Excellencies, ASEAN Economic Ministers,Speakers, Distinguished Delegates, Ladies and Gentlemen,

Good Afternoon!I would like to express my sincere appreciation to the Government of the Republic of the Philippines and the ASEAN Business Advisory Council (ASEAN BAC) for hosting and organizing this ASEAN Business and Investment Summit under the theme “World Leaders’ Roadmap Towards Prosperity for All”.

ASEAN BAC was formed in 2002, and since then events such as this have been held annually to enhance the interaction and engagement between Public and Private Sectors. This regular engagement clearly demonstrates the commitment of ASEAN governments in acknowledging the critical role of the private sector in economic development and regional integration.

Excellencies, Distinguished Delegates, Ladies and Gentlemen,

The ASEAN economy has grown tremendously in recent decades, becoming the 7th largest economy in the world. In terms of population, our 648 million people make us larger than either the EU or North America.

The ASEAN economy is invigorated by a significant proportion of young people in our labor force, which is the 3rd largest after China and India. Since 2004 ASEAN’s annual GDP growth has averaged over 5 percent, outpacing that of any other region.

Excellencies, Distinguished Delegates, Ladies and Gentlemen,

Myanmar is a member of the ASEAN family, and our economy too has been growing rapidly as we roll out rigorous reforms and structural changes in every sector.

Significant reforms can especially be seen in the investment sector, as visible progress is being made in ensuring a level playing field, in strengthening competition, and in creating a favorable, predictable and friendly investment climate.

Central to all of this is the role of the private sector, which is being enabled through various mechanisms that include, but are not limited to, Private-Public-Partnership arrangements which ensure that the private sector plays an important role in developing major hard and soft infrastructure projects that will contribute in no small measure towards the economic development of our nation. Various steps such as establishing one stop service centers, adopting the concept of a single-window system, developing online electronic application systems, etc., are being taken to reduce bureaucratic red-tape, and to create an enabling business environment in which private entities can flourish.

For Myanmar, newly emerged from decades of economic and political isolation, and amid the recent global economic slowdown, there are many challenges. Yet, despite these, we remain committed to stay the course, to achieve inclusive and sustainable development together with all ASEAN countries. As a responsible member of ASEAN, Myanmar will work together with all ASEAN family members to become more connected and integrated, economically and socially. In the process of such integration, human capital – our intellectual and creative resources – play a pivotal role in filling the gap between diverse ASEAN member countries at different stages of economic and social development.

Excellencies, Distinguished Delegates, Ladies and Gentlemen,

Myanmar hosted the International Women’s Forum in 2013 to acknowledge the important role women play in economic and social development, the vital role played by the creativity and resilience of women in our country’s transformation, and the need for women’s perspective in bringing about sustainable social change. More and more women entrepreneurs have emerged to participate vigorously in the transformation, demonstrating the increasing importance of women in the social but also in the economic sphere.

While I am delighted to witness the active participation of women entrepreneurs in the private sector, I am also inspired by the millions of women who toil each day, holding their heads high in the face of every adversity, saving and sacrificing so that our children can enjoy a better life. All these women should be empowered for themselves, for their families and for their contribution to the transformation of Myanmar. For their shared contributions across ASEAN, the lived experiences that cement the integration of our countries into a common family.

The majority of enterprises in Myanmar led by women entrepreneurs are small and medium sized. Being SMEs, challenges are everywhere – and range across access to finance, access to markets, access to land, access to information, and access to technology. And, as if these challenges were not enough, women have to cope with gender discrimination as well. Measures need to be taken to empower them to overcome these social constraints, strengthen their potential, and unleash their economic power to contribute towards their nation’s development.

Excellencies, Distinguished Delegates, Ladies and Gentlemen,

Report after report by scholars and international organizations assert the importance of gender equality. It is sometimes said that the one unambiguous and non-trivial fact in economic development literature is the strong and statistically significant correlation between the empowerment of women and economic growth. A landmark study by the FAO demonstrated that closing the gender gap in agricultural decision-making would lead to a 20-30 percent increase in farm yield. In Myanmar, women account for approximately half of the agricultural workforce. However, women are too often confined to farm labour and not properly recognized as a major driver of farm decision making, from crop selection to planting times, and much too frequently excluded from entitlement.

To achieve positive change in women’s rights, it is important to increase the number of girls enrolling in primary and secondary school, improve the participation of women in the labour force, ensure better maternal health outcomes, provide more solid social protection measures, and promote the role of women in decision making.

The participation of women in recent social, political and economic changes is remarkable in many countries. However, women are still missing out on opportunities in countless areas. The social norm that equates women with unskilled labour and perceived them as mere homemakers incapable of making decisions is one of our biggest challenges.

In recognition of the importance of women’s role in the achievement of economic and social development, Myanmar has developed a ten year National Strategic Plan for the Advancement of Women. This plan is based on the 12 Priority Ares of the Beijing Platform for Action and the principles of the Convention on the Elimination of All Forms of Discrimination against Women, to which Myanmar became a signatory in 1997. Our Plan is ambitious but achievable and Myanmar is committed to creating an enabling environment for women that will allow them to realize their full potential.

It is said that women hold up half the sky. And, they nurture half – probably more – of the earth.  The contribution of women towards economic and social development can be significant not only in Myanmar, but throughout our region. By recognizing this potential, let us create an environment where women can unleash their economic power – for our countries individually, for our integrated community that we call ASEAN… and for a better world.

Human Capital Development

Today, there is growing recognition that the well-being of a nation is not only a function of its wealth in natural resources but also of the knowledge and skills of its people. The experience of newly industrialized countries such as South Korea and Singapore serve to underscore that increased knowledge and skills can bring about better economic outcomes for both individuals and nations. The quality of human resources of a country has a bearing on its economic development.

Clearly, human capital development is key to social and economic development of countries.

Developing countries must strive to develop human capital. This can be done through education and training to produce qualified and trained workforce who can compete in the changing global economic environment. In today’s world, human capital development is essential for attaining sustainable economic growth and development. Education has an important role to play in the development human capital of a nation. Investment in education can help promote faster economic growth.

Thank you.

Ref; The Global New Light of Myanmar