Promotion of production and export sector stressed to reduce trade deficits: Senior General

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Chairman of the State Administration Council Senior General Min Aung Hlaing presides over the 1/2021 Economic Affairs Committee Meeting yesterday.

Chairman of the State Administration Council and Commander-in-Chief of Defence Services Senior General Min Aung Hlaing delivered a speech at the 1/2021 meeting of the Economic Affairs Committee yesterday.

At the meeting, Senior General Min Aung Hlaing discussed the importance of the national economy as a driving force for the development of the country, the works of the economic affairs committee for this sector, collaborative efforts in the works, and promotion of the production and export sector to reduce trade deficits shown the figures of Ministry of Commerce and Ministry of Planning, Finance and Industry.

He also held talks on sufficient human resources for the workforces, natural resources in the country with over 54 million population and conservation works for future generations, production of import-substituted items, more electricity generation to improve production sector, employment opportunities for the citizens who completed basic and higher educations, assistance for the employers and employees, guarantees and incentives for investors and collection of tax revenue from more taxpayers.

The Chairman of State Administration Council also instructed providing assistance to factories and industries, adopting policies by the relevant ministries for the better quality of products, the participation of nationals in the economic sector, the proper intention of the Economic Affairs Committee in making approvals for investments.

Union Minister U Win Shein, the secretary of the Economic Affairs Committee, reported on the formation of the committee and the discussions.
Union Ministers for the Ministry of Home Affairs, the Ministry of Planning, Finance and Industry, the Ministry of Agriculture, Livestock and Irrigation, the Ministry of Information, the Ministry of Natural Resources and Environmental Conservation, the Ministry of Electricity and Energy, the Ministry of Commerce, the Ministry of Construction, and the Ministry of Social Welfare, Relief and Resettlement discussed matters related to the approvals of ministries, registrations, issuing orders, the appointment of members for Securities and Exchange Commission of Myanmar, providing cash awards, and signing MoUs and agreements.

Union Minister U Aung Naing Oo also reported on the ongoing projects with foreign countries, MoUs and international assistance; Auditor-General of the Union Dr Kan Zaw about the work plans and reform processes; Union Minister U Khin Maung Yi about the compilation of copper and gems and organizing gems emporium.

In his concluding remark, the Senior General discussed requirements for economic recovery from the impacts of COVID-19, proper time management, making appropriate reports without delay, collaboration among relevant departments and ministries through firm policies.—MNA

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