Effective protections on intellectual property can improve foreign investment, create new job opportunities: MoC Union Minister

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The eighth World Intellectual Property Day 2022 event in progress virtually.

Effective protections on intellectual property can improve foreign investment and create new job opportunities, said Union Minister for Commerce Dr Pwint San during the eighth World Intellectual Property Day 2022 ceremony held virtually in Nay Pyi Taw yesterday. Moreover, the transfer of high technology can enhance productivity and create innovations in literature, arts, and industrial sectors by sharing the benefits equally between the creators and consumers and improving living standards. Therefore, intellectual property can support the country’s economic development, he said.
According to the theme of this year’s World Intellectual Property Day, the Union Minister added that it is necessary to work together to establish a copyright protection system so that today’s youth can create innovations that will make the future more beautiful.
World Intellectual Property Day has been held annually by the World Intellectual Property Organization since 2000. The theme of World IP Day 2022 is IP and Youth; Innovating for A Better Future.
Myanmar became the 176th member country of WIPO in 2001.
The Ministry of Education (previously the Ministry of Science and Technology) and the IP Department under the Research and Innovation Department served as a domain to communicate with the World Intellectual Property Organization to conduct the IP related activities. The IP Department drafted and amended the copyright law, shared knowledge, cooperated with international organizations and carried out the copyright measures.
The 26th of April is designated as “World IP Day” each year in recognition of the “WIPO Convention” established by the World Intellectual Property Organization (WIPO) in 1970. — Htun Htun/GNLM

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