Boosting Local Production, Exports to Drive Economic Growth

 

Unnecessary checkpoints along transit routes must be reduced, alongside strict measures to prevent illegal trade to ensure the swift and smooth flow of goods, said President of the Republic of the Union of Myanmar U Min Aung Hlaing at the Union Government meeting at the President’s Office in Nay Pyi Taw yesterday afternoon.

In his speech, the President stated that instead of relying on foreign grants and loans, it is necessary to utilize all domestic resources and potential to promote local production and advance the national economy in accordance with the saying, ‘the strength of the nation lies within’.

It is essential to take action to grow the national economy by boosting domestic production and expanding the export sector. In doing so, priority must be given to supporting manufacturing industries that primarily utilize domestic raw materials, ensuring the production of import-substitution goods while simultaneously striving to increase foreign exports.

He noted that relevant officials must strictly inspect and supervise to ensure the quality of imported and exported goods meets standards, and prevent dishonest practices from damaging the country’s image.

In the revenue sector, the President underlined that business operators and the public pay taxes, which the government utilizes to carry out national development. These tax revenues must be spent effectively where the country truly needs them. In utilizing tax funds efficiently across ministries, regions, and states, authorities must always be mindful of and considerate towards the taxpayers.

At the meeting, the President explained his official visits to Thailand, the Russian Federation and the Republic of Belarus in order to strengthen friendly relations and cooperation between the two countries and their armed forces. Moreover, the President recounted that he urged the Thai Prime Minister and the Acting President of the National Assembly of Thailand to protect the rights and safety of Myanmar migrant workers in Thailand.

The President outlined that mutual friendship, engagement, and cooperation must be strengthened across all sectors by paying goodwill visits to regional partner and neighbouring countries, and furthermore, it is necessary to analyze and apply the strengths and good practices observed in those countries.

The President urged all to drive national economic growth by boosting domestic production and expanding the export sector. In doing so, priority must be given to encouraging manufacturing industries that primarily utilize local raw materials, ensuring the production of import-substitution products while also striving to increase foreign exports.

In carrying out production activities, the President underscored that rather than relying on the extraction of aboveground and underground resources and minerals, it is necessary to focus on successfully developing sustainable, agricultureand livestock-based manufacturing industries.

Particularly, the President stressed that to boost export earnings, efforts must be made to revitalize the era of Myanmar’s Pawsan Hmwe paddy and regain market share.

He stated that as there is already strong market demand in neighbouring and regional countries for agricultural and livestock products, meeting this demand through production will significantly contribute to national economic development.

The President unveiled that the government is actively working through the best possible means to overcome political and economic sanctions in order to drive national economic progress.

The President highlighted that while the government is making efforts to promote the education sector, systematic and comprehensive development can only be achieved through the active cooperation of students, parents, teachers, and administrative bodies alike.

Union ministers and chief ministers of regions and states reported on their sectors.

Also present at the meeting were Vice-Presidents U Nyo Saw and Nan Ni Ni Aye, the Nay Pyi Taw Council Chairman and officials, together with chief ministers of regions and states through videoconferencing.

MNA/TTA

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