Myanmar expresses judicial protection for businesses at International Legal Forum of the Asia-Pacific Region

The 12th International Legal Forum of the Asia-Pacific Region was organized by the Supreme Court of the Russian Federation through videoconferencing yesterday, joined by Chief Justice of the Union U Thar Htay from the Supreme Court of the Union in Nay Pyi Taw, together with Chief Justices from the countries of Asia-Pacific Region.
The forum aimed to protect border-crossing legal connections and national justice as well as the rights of businesses in a socially secure country and adjust the interests in practically exercising the legal affairs.
Judge of the Supreme Court of the Union U Thaung Naing also gave a talk at the forum, under the title of protection of business rights in Myanmar and the judicial sector, saying that Myanmar set the values of law framework for the economic development of businesses of investors in Myanmar. Myanmar Constitution guarantees that the Union shall protect and prevent acts that jeopardize public interests through monopolization or manipulation of prices by an individual or group with intent to endanger fair competition in economic activities. An effective judicial system is essential in Myanmar for protecting the rights of businesses. As such, Myanmar adopted the judicial strategy in conformity with the Myanmar Sustainable Development Plan (MSDP) as part of initiating the partial reform of the judicial system. According to the State-owned enterprises law, businesses invested together with State-owned enterprises have the specific legal rights for prosecution and liability of facing prosecution. Policymakers and authorities need to join hands with those from the judicial sector in protecting the rights of businesses.
The forum was also attended by officials from the Supreme Court of the Union. — MNA/ TTA