Myanmar’s economy is not too much declining because of manufacturing export products made from agriculture and livestock farms: Senior General

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State Administration Council Chairman Prime Minister Senior General Min Aung Hlaing addresses the meeting 7/2022 of the Union government in Nay Pyi Taw on 7 October 2022.

All ministries must spend the budget under the appropriate titles without waste, said Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing at the meeting 7/2022 of the Union government at the SAC Chairman office in Nay Pyi Taw yesterday afternoon.

It is the most assured that efforts are being made to develop the State economy through internal strength
Each government is responsible for the development of the State economy. The World Bank, the International Monetary Fund and the Asian Development Bank indicated the minus sign of Myanmar’s economic growth. But Myanmar’s economy is not too much declining because of manufacturing export products made from agriculture and livestock farms. It should not rely on the external for the economic development of the State. If efforts are made for encouraging local economy as much as possible, it will be the best. Hence, encouragement is being given to MSME industries the ethnic people can operate. If MSMEs use local and internal raw materials, they will not face shortages of raw materials. The government will disburse loans to MSME businesspersons but they have to pay back the debt to the State at a time. The Senior General said that he adopted the policy for MSMEs to use local raw materials.
If the country can export a large volume of rice to the international market, it will have a chance to join the role of taking responsibility for food security. More than 17 million acres of monsoon and summer paddy are cultivated in Myanmar. It is necessary to consider the improvement of Yangon, Pathein, Sittway and Mawlamyine ports which operate the export of rice overseas.
One Region One Product
The Senior General said the development of MSME industries and encouragement to primary products of relevant regions. He said: “The next one is related to data and formation of MSME industries. On the other hand, MSME industries need to clearly operate their functions in regions and states and districts. Anyone should not spend their spare time in a working office works. We all need to view productions. MSME industries must be established in major districts and cities of regions and states. The districts producing primary products must be engaged in One Region One Product. More than 120 districts must manufacture more than 120 items of products. For example, Pakokku must produce good quality textile items. At the ceremony in commemoration of World Tourism Day, blankets and textile wares were exhibited. I saw that Pakokku could show the best quality textile items. Some items may be there I missed the chance to see. The other day, I saw the good quality of the Inma sarong. It was a good quality product. I encourage such businesses to do so. Some regions can produce quality products of rice, beans, bamboo, metals, etc. If the country manufactures the products through One Region One Product, these may catch the attention of tourism at an opportune time.”

All-out efforts for the development of regions
Relevant ministries need to cooperate with region-wise departments for ensuring equitable development of the regions across the nation. Ministries need to hand over the unused budget to the government. All ministries must spend the budget under the appropriate titles without waste.
Union ministers reported on sector-wise presentations.
In his response, the Senior General said that the ministries operating businesses need to ensure the budget balance to be able to secure benefits without losses as much as they can.
The Senior General also said that relevant ministries need to solve the problems of MSME businesspersons at the meetings in time. The government will immediately fulfil the needs if necessary. Monsoon and summer paddy, oil crops and beans should be cultivated in double and mix-cropping patterns to increase the income of the State. Industrial zone plots are allowed for industries only without housing projects. Industrial zones must prioritize industrial production. Officials need to supervise all tasks under the checklist to have success while seeking advice from subordinates to be able to achieve greater success. — MNA

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