Cooperation is key for development of private sector

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  • Our country’s economy will rise only when the private sector develops. Ninety per cent of the country’s economy is in the private sector and 99 per cent are small and medium enterprises (SMEs).
    Some 230 obstacles faced by the businesses were answered by the relevant ministries, states/regions governments and the five work committees.
    In the export sector, a record value of more than $14 billion was reached through the export of rice, cereal, raw rubber and garments. Some 3.52 million tonnes of rice were exported.
    At the meeting with Vice President U Myint Swe in Yangon on Monday, businessmen from private industries dealing with rice, fish, sugar and sugarcane products and peas and beans reported to the Vice President on their obstacles and advised the government to assist them.
    Upgrading of the fish and prawn farming industry, which is likely to help grow GDP rate in a short time, would be upgraded by the private sector in attempts to reach a target of US$2 to 3 billion income from the export of fish and prawn within or two years.
    To upgrade the infrastructures in the fish and prawn industry, experts from Indonesia, Taiwan and China will be hired to work with Myanmar workers and the process would create more than 100,000 job opportunities.
    Meanwhile, the decrease in the price of peas has hit Myanmar farmers hard this year, eroding their confidence to grow the crops again next year. At the meeting, traders urged the government to assist them in finding further export markets for peas.
    For the rice industry, the trades sought help from the government to get loans from a foreign bank to establish an Agribusiness Services Centre (ASC) and to set aside more than Ks15 billion for SMEs in the rice industry in 2018.
    The government has also invited the private sector to cooperate with the government in its efforts to ease rules, promote small and medium enterprises, development the trade sector, provide vocational training and build infrastructure.
    To gain a quick win in solving the issues, the government has arranged to hold private-public dialogues to discuss the issues presented by the businessmen if the responses to them by the ministries concerned are thought to be inadequate.
    Cooperation between government and private sector is sine qua non for country-wide private sector development.
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