Cogwheels of a development process

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Development is a matter to be gauged after assessing from every point of view. From the point of view of foreign companies that would like to invest in Myanmar, they would probably like to know the whole situation of the Myanmar economy. The government always publicizes its annual reports of such economic data such as facts, figures and information which reflect the extensive coverage of economic situations about the country. However, in the opinion of foreign analysts, data of companies in Myanmar is still weak.
For foreign companies desirous of investing in Myanmar, compilation of data regarding the kinds of companies which are investing in various economic sectors are of great importance.
Though we have telephone directories such as Yellow Pages in Myanmar, other reliable books describing detailed facts and information about companies operating in the country were rarely found until now. Individual data of companies—the kind of business, number of staff, profit or loss, tax levied on business and other relevant data are important ones in assessing the status of individual companies.
Here is an example we would like to present. The incumbent government elected by our people is organizing its businessmen with tax-assessable income to pay tax in accord with the prescribed rules and laws.
Had companies paid tax levied on them to the full, and respective authorities concerned performed their duties with zealous efforts to fully collect tax and revenue the country deserves, statistics on tax will become an important index for foreign companies who will come to invest in the country.
It is thus essential to compile data and statistics on companies in accord with international standards. Foreign investors will be able to decide as to whether these local companies are really the ones which are worth working hand in hand or not, only if statistics and data that comply with international standards are available. Thereafter, the foreign companies will make their own assessment before deciding whether they wish to form a joint venture with a local partner or not.
Last but not least, we humbly urge that local companies submit their relevant statistical data as required by the government. Simultaneously, the authorities are responsible to promptly compile data and statistics that comply with international standards.

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