Vice President U Myint Swe addresses 17th meeting of Myanmar entrepreneurs

Vice President U Myint Swe, Chairman of the Private Sector Development Committee, attended the 17th regular meeting between the Private Sector Development Committee and Myanmar entrepreneurs at the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office in Yangon yesterday morning.

Also present at the meeting were Vice Chairman of the Private Sector Development Committee and Union Minister for Commerce Dr. Than Myint; Yangon Region Chief Minister U Phyo Min Thein; Deputy Ministers U Aung Htoo and U Win Maw Tun, Yangon Region Ministers, officials from five work committees, UMFCCI President and members, Permanent Secretaries, Directors-General, representatives of the Kalay-Tamu Border Trade Merchant Association, Sagaing Region Chamber of Commerce and Industry, Myanmar Flour Business Association, Myanmar Gems and Jewellery Entrepreneurs Association and other officials.

Addressing the meeting, U Myint Swe said the committee was formed more than one and a half years ago to implement matters in the private sector development framework.

Since its formation, five works were designated and five work committees were formed to implement these works.

The Private Sector Development Committee coordinated and discussed the works of the five work committees in its bi-monthly meetings, and the committee’s seventh work coordinating meeting was held on 27 April.

To support the private sector development works, meetings with entrepreneurs were held since December 2016, where sector and group wise difficulties were resolved. In the 16 meetings that were conducted, 245 suggestions were made and responses were sent to the relevant businesses.

In some matters yet to be concluded, the five work committees are arranging public-private dialogues between the relevant ministries and private businesses. To increase investment, the Union Government has been enforcing and relaxing laws, frameworks, rules, regulations, procedures and processes, according to the age and system.

For the sustained development of small and medium enterprises, the import of illegal products was being prevented by forming a special task force with the help of the Ministry of Home Affairs, relevant ministries and state/region governments.

In the World Bank’s Ease of Doing Business Index for 2018, Myanmar ranks 171, and special emphasis has been placed to break into the top 100 in three years. A 14-member group, led by the Deputy Minister for Commerce, on improving the Ease of Doing Business ranking was formed to implement this, said the Vice President. Some 10 support groups, based on the Ease of Doing Business indicators, were also formed, and of these 10 indicators, a Credit Bureau was being permitted for the ‘Getting Credit’ sector.

Respondents needed to meet with the relevant businesses and groups to respond to questions raised on improving the Ease of Doing Business ranking. UMFCCI also needed to assist the businesses to provide answers that show progress and reforms, added the Vice President.

The Vice President urged the four groups and organizations participating in the meeting to openly discuss the problems they faced.

Union Minister for Commerce Dr. Than Myint then explained the status of the works implemented by the Ministry in the export/import and investment sectors.

Next, Yangon Region Chief Minister U Phyo Min Thein explained the arrangements made for the economic and travel sector development in the Yangon Region.

Later, Deputy Minister for Commerce U Aung Htoo, leader of Improving the Ease of Doing Business Ranking Group, explained the works conducted to improve the Ease of Doing Business Ranking.

Following this, UMFCCI President U Zaw Min Win explained the achievement in various sectors.

The Vice President, Union Minister, Yangon Region Chief Minister and officials then coordinated and resolved the discussions made by the representatives of the Kalay-Tamu Border Trade Merchant Association, Sagaing Region Chamber of Commerce and Industry, Myanmar Flour Business Association and the Myanmar Gems and Jewellery Entrepreneurs Association.

The meeting concluded after U Myint Swe delivered a closing speech.

Myanmar News Agency

Ref; The Global New Light of Myanmar