Government settling 38 cases reported by entrepreneurs to develop private sector businesses

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Vice-President U Myint Swe addresses participants of the third meeting at UMFCCI.

The Union Government’s Private Sector Development Committee and entrepreneurs held their third regular meeting in Yangon yesterday, discussing on how improvements can be made to make it easier for entrepreneurs to do business, how to streamline application processes and for speedier private sector development in the country.
A total of 38 cases, which were identified in the previous two meetings, are being reviewed for solutions with support from ministries and organizations concerned and progress reports have been submitted to the UMFCCI with emphasis on the private sector, said Vice-President U Myint Swe in his opening speech at the meeting held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) Head office in Yangon.
“Private-Public Dialogue is needed if the Private Sector Development Committee wants to swiftly and effectively address the issues presented by private business owners and strengthen both government departments and private businesses,” said Vice-President U Myint Swe.
“On the government side certain laws and regulations need to be amended while more participation is needed from the private sector. This is why it is urgent that each sector/group be as transparent as possible about the difficulties they are facing and take active participation in resolving them,” he added.
In his remarks, Vice President U Myint Swe also said that the purpose of the regular meeting between the government and entrepreneurs was to discuss on how improvements can be made for smoother business transactions by dealing with requirements/shortcomings with support from different sectors.
This is the third time the Vice President has held a forum with businessmen for developing the private sector. The Private Sector Development Committee was established to effectively solve the difficulties businesses discussed they faced at the forums. In addition, 5 subcommittees were formed under the main committee. The subcommittees being: (1) Committee for Development of Law and Regulations, (2) Committee for Securing Capital/Cash, (3) Committee for Supporting Trade and Investment, (4) Committee for redefining businesses and service providers in the national context, (5) Committee for developing Human Resources.
In establishing a committee and economic committee, to have an effective impact, the members comprise individuals from commerce departments and representatives from the private sector and two committee meetings and seven economic committee meetings have been conducted on improving the private sector. Officials from the 5 subcommittees were in attendance to better handle the issues presented in the present meeting, and if necessary to discuss with departments concerned for finding solutions.
Union Minister for Planning and Finance U Kyaw Win, Union Minister for Health and Sports Dr. Myint Htwe and Chief Minister of Yangon Region U Phyo Min Thein delivered individual speeches.
Later, Union of Myanmar Federation of Chambers of Commerce and Industry Vice-Chairman U Thein Han gave the opening speech.
Union of Myanmar Oil Merchants and Businesses, Union of Myanmar Oil Machine Owners, Union of Myanmar Consumable Goods Production and Distribution, Union of Myanmar Industrial Productions, Union of Myanmar Textile Manufacturers, and Representatives of Unions dealing with FDA proceeded to discuss on their respective sectors.
Afterwards regional and state merchants and industrial business owners discussed on implementing strategies for developing the private sector and export sector, and on cases requiring a service license for commercial enterprises. Union Ministers, Yangon Region Chief Minister, and officials in attendance resolved all cases immediately solvable and the Vice-President discussed on each sector before delivering a closing speech.
The third meeting was attended by Deputy Ministers, Yangon Regional Ministers, Department Heads, the Vice-Chairman of Union of Myanmar Federation of Chambers of Commerce and Industry and officials from other Unions, and various business owners.
Because the private sector consists of 90% of the nation’s economy, the government is working with special emphasis for faster and smoother processing in the critical trading and investment sectors.

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