7th coordination meeting of Private Sector Development Committee

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Vice President U Myint Swe addresses the 7th coordination meeting of the Private Sector Development Committee yesterday. Photo: MNA

The 7th coordination meeting of the Private Sector Development Committee was held yesterday morning in the meeting room of the Ministry of Commerce in Nay Pyi Taw. Vice President U Myint Swe, who is also Chairman of the committee, addressed the meeting.
Present at the meeting were committee Vice Chairman Union Minister Dr. Than Myint, committee members who are Union Ministers U Thant Sin Maung, U Win Khaing, U Khin Maung Cho and U Han Zaw, Union Attorney General U Tun Tun Oo, Central Bank of Myanmar Governor U Kyaw Kyaw Maung, Deputy Minister U Win Maw Tun, President of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Private Sector Development Committee members, chairmen, vice chairmen and secretaries of the five work committees, members of Group on increasing Ease of Doing Business Ranking and officials.
In his speech to the meeting the Vice President said it has been about one and a half year since the committee was formed in 24 October 2016 and some works were being done for private sector development. Since the committee was formed, five duties were assigned to it and five work committees were formed to implement these duties. By doing so it would significantly develop the private sector and the importance of the work committees could be seen. Up to the sixth coordination meeting 42 out of 45 decisions were implemented and three were still being implemented. Of the three remaining decisions, a Credit Bureau, that collects information on loans will be implemented soon. The other two decisions of increasing Ease of Doing Business Ranking and Single Registration System of businesses in a single Ministry instead of registering in many Ministries were still being implemented. These two are type of works that need time to be implemented.
In order to support the private sector development work, meetings with businesses were held where sector wise groups were formed and sector wise difficulties were being resolved. As of April sixteen such meetings were held where 245 suggestions and submissions were made. All the suggestions and submissions were being replied to the relevant businesses. In some cases, several steps need to be taken to resolve and respond to the relevant businesses and the five work committees were conducting private-public dialogues between related Ministries and businesses continuously.
In the 2018 World Bank report on Doing Business, Myanmar was ranked at 171. The aim was to reach a ranking better than 100 in three years. To accomplish this, a 14 members group led by the Ministry of Commerce Deputy Minister on improving the Ease of Doing Business ranking was formed on 8 January 2018. Ten supporting groups based on 10 indicators on Ease of Doing Business were formed. The supporting groups need to setup systematic work plans and conduct their works accordingly.
As in other ASEAN countries, registration of businesses should be conducted in a single place under a One Stop Service and relevant Ministries need to cooperate in this. Doing this will support the increasing Ease of Doing Business Ranking.
Heads of the ten supporting groups under the Improving Ease of Doing Business Ranking group led by Ministry of Commerce Deputy Minister U Aung Htoo need to put in concerted efforts during the time when survey questionnaires for 2019 World Bank Ease of Doing Business report were being conducted.
Committee members, Union Ministers, officials from the five work committees and officials from the ten supporting groups of Improving Ease of Doing Business Ranking group were urged to work together for private sector development said the Vice President.
Next Committee Vice Chairman Union Minister Dr. Than Myint explained about status of works conducted for private sector development and status of supports provided to trade and investment works to increasing Ease of Doing Business Ranking.
Afterwards, committee Secretary Ministry of Commerce Permanent Secretary U Toe Aung Myint explained about the decisions made at the last meeting and status of completed works.
Following this, officials from the five work committees explained about their respective works.
Committee member Central Bank of Myanmar Governor U Kyaw Kyaw Maung then explained about works conducted to establish a Credit Bureau and committee member Union Minister U Win Khaing explained about work conducted for providing electrical power which was one of the ten Ease of Doing Business categories.
Committee member UMFCCI President and officials also discussed on sector wise private sector development matters and officials from supporting groups under the Improving Ease of Doing Business ranking group discussed and explained about present status of Ease of Doing Business, aims and Ease of Doing Business indicator wise works conducted. Private Sector Development Committee Joint Secretary Myanmar Trade Promotion Organization Director General U Aung Soe explained about matters relating to improving the Ease of Doing Business Ranking.
Private Sector Development Committee Chairman Vice President U Myint Swe delivered a closing speech to conclude the meeting after giving necessary instructions to coordinate the work of the various committees based on the explanations and discussions.

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