Chairman of State Administration Council Prime Minister Senior General Min Aung Hlaing Meets Officials from Associates of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry

The Chairman of the State Administration Council (SAC) Prime Minister Senior General Min Aung Hlaing met the officials from associates of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) at the Mingala Hall of UMFCCI in Yangon on 23 December.

First, UMFCCI President U Aye Win reported on the establishment of the federation, formation of the federation, admission of associate organizations under the disciplines, running of the federation, policies and future plans, and other officials made suggestions on respective sectors.

After hearing the reports, the Chairman of the SAC Prime Minister made remarks as follows:

• As governments in successive eras have undertaken the development of the nation, the current government is also striving for the improvement of the country.
• Only when manufacturing measures are active will trade and service come into existence. To be able to do so, the government makes management, encouraging MSME businesses for manufacturing products.
• MSME industries aim to encourage domestic businesses, substitute imported products and increase the export volume. Priority must be given to manufacturing measures to encourage local businesses.
• The democratic governments in the first and second terms emphasized the import of goods rather than the manufacturing of the products and faced a trade deficit. Prioritizing domestic production is further benefitting the State.
• The Tatmadaw government adopted market economy, which came into shape in 2011 when the country was on the road to multi-party democracy.
• With less productivity in the country, there are still few trade activities. It is necessary to mass-produce quality goods.
• The use of products from the existing agricultural, livestock and natural resources will contribute to national economy.
• Regarding State loans, there are loans for development as well as businesses. The State is providing loans for capital investments.
• Only when the amount of circulating currency is larger will the businesses develop. So, the government encourages investment measures.
• Regarding the fertilizers, the country has a lot of fertilizer plants and measures are being taken to fully operate them. Waste from livestock breeding can be used as biofertilizer. Natural fertilizers like EM Bokashi can also be used.
• They should be systematically and efficiently in a disciplined manner on the allotted plots.
• If manufacturing of personal goods and foodstuffs can achieve success with the use of agriculture and livestock products, it will meet domestic demand and benefit the country.
• Exceeded products will be exported to foreign countries.
• Subject-wise training schools are opened to turn out relevant qualified human resources. If private sectors produce skilled labourers, the government will encourage them.
• The country is still needs of paper. Pulp can be produced from wood and bamboo resources.
• If pulp and paper factories are to be established in the country, the State will support.
• Moreover, locally produced rubber can be used to manufacture consumer goods. As there are imports of textiles every year, efforts should be made to improve cotton cultivation and production.
• For the garment industry, greater efforts are necessary for greater development. That industry can create jobs for women.
• Raw materials for manufacturing steel that is necessary for domestic construction tasks have been available and any national entrepreneurs will be encouraged to manufacture steel at home.
• Regarding the banking sector, banking operations came to a halt when the government took office due to various reasons but the sector has recovered at present. As the banking sector is important for the country, the government has to take measures to prevent banks from collapsing.
• Efforts are being made for the development of the tourism sector.  It will be of great benefit for the country if the development of the tourism sector can be achieved.
• As the country is in need of medicines, it is necessary to manufacture medicines that can be produced at home except some medicines to meet the demand. The government is ready to permit entrepreneurs to build private hospitals as such enterprises are greatly beneficial to the public.
• Officials from associate organizations of the UMFCCI are urged towards the development of the State economy free from politics.  

Also present at the meeting along with the Chairman of the SAC Prime Minister were SAC Joint Secretary, Council members, Union ministers, Chief minister of Yangon Region, senior military officers of the Office of the Commander-in-Chief, Commander of Yangon Command, Yangon mayor, central executive committee members of UMFCCI and officials of associate organizations.

Source: MWD (24-12-2022)

• MSME industries aim to encourage domestic businesses, substitute imported products and increase the export volume. Priority must be given to manufacturing measures to encourage local businesses.
• The democratic governments in the first and second terms emphasized the import of goods rather than the manufacturing of the products and faced a trade deficit.
• Only when the amount of circulating currency is larger will the businesses develop. So, the government encourages investment measures.
• Exceeded products will be exported to foreign countries.
• If pulp and paper factories are to be established in the country, the State will support.
• The government is ready to permit entrepreneurs to build private hospitals as such enterprises are greatly beneficial to the public.