Greetings to all attendees and guests!
I am delighted to have the opportunity to deliver this speech at today’s groundbreaking ceremony for the Korea-Myanmar Industrial Complex. I would like to express thanks to everyone who worked hard for today’s ceremony.
I would like to warmly welcome New Southern Policy Committee Chairperson Mr Park Bok-Yeong and Ambassador of the Republic of Korea to Myanmar Mr Lee Sang-hwa.
I would also like to thank Korea Land and Housing Corporation and Global Sae-A Co., Ltd for implementing this project to use public land for economic development effectively.
There is no doubt that the efforts of all those who came today are to create job opportunities, not only to bring prosperity to the people of Myanmar but also to strengthen the friendship between the people of Myanmar and Korea.
Today’s ceremony is not only about developing an industrial zone but also about building a basic economic foundation for a better future for the people of Myanmar, including the residents in Yangon.
We all know that this is a challenging year. People are experiencing a recession and job losses. These difficulties are particularly affecting Yangon residents, who are facing long-term restrictions.
However, as we emerge from 2020, we will have to work hard for next year, and it is certain that KMIC and similar projects will bring sustainable and all-inclusive economic recovery to our country.
Despite the difficulties and challenges caused by the COVID-19 pandemic, Myanmar is working hard in all aspects and still doing well.
According to the latest data released by the World Bank and the International Monetary Fund, Myanmar’s GDP growth is still relatively stable compared to other nations in the region. Despite the losses caused by the COVID-19 pandemic, we are confident that the situation will continue improving in the years to come.
Regarding this, I remember some remarks made by President of the Republic of Korea Mr Moon Jae-in at the Myanmar-Korea Business Forum held in Seoul last year. He said that the KMIC would become a new step for supporting the creation of miraculous innovations on the Ayeyawady river basin. I wish to share this expectation fully.
In addition, as a result of the current government’s reforms in investment and foreign economic relations, not only will the KMIC project be completed but similar new projects will also emerge.
As a result of these reforms, we will see a new industrial zone in our area.
After completing the KMIC project, by creating more opportunities for small and medium enterprises, it would be possible to expand local business enterprises and many industrial enterprises, including suppliers and restaurants.
Thanks to all for all your hard work in creating this KMIC. Myanmar has been able to allow foreign direct investment projects since the current government took office, creating hundreds of thousands of new high-quality jobs.
To date, the industrial sector has contributed up to 38 per cent of the country’s economy and contributed significantly to the employment of women in addition to jobs created by traditional factories. In addition, this sector has been able to make many high-quality jobs.
This kind of progress is not easy and does not come smoothly. But we can see the progress here in Yangon and across Myanmar with our own eyes vividly.
In implementing the KMIC project, our simple concept is that it is the government’s duty to create a conducive environment for jobs and industrial growth. We can see that it is the most important thing.
The government alone cannot create jobs; it alone cannot bring sustainable development. So, the government creates linkages between MSMEs and investment capitals; helps people prepare for jobs that require advanced technical skills and lays the foundations for such investments that will generate 21st-century jobs. By doing so, workers, their families and the communities will get great business opportunities.
Foreign direct investments will bring innovations and expertise, which will strengthen the private sector. Such private sector development is also one of our government’s priorities, as mentioned in the Myanmar Sustainable Development Plan (MSDP).
The jobs available through KMIC and similar investments are 21st-century jobs. These investments can help our country boost manufacturing and the industrial sector, and integrate them into regional and global value chains. Moreover, participation in the recently signed Regional Comprehensive Economic Partnership (RCEP) can help the economic sector. In addition, such investments can help us create high-quality “Made in Myanmar” brands.
Today’s ceremony shows that we are on the right track to implement our goals successfully.
We must continue investing in creating infrastructures such as new roads, bridges, ports, schools, smart factories and highways. We must implement effective water and waste management systems, and we must work hard to create a sustainable and all-inclusive green economy. To do so, we must continue investing in basic organizational infrastructures and capacity building of our human resources.
The surest way to overcome any obstacle is to move forward without looking back. We have to continue marching forward.
The implementation of the KMIC project is an example of the strengthening of Korea-Myanmar cooperation and friendship between citizens of the two nations. That is why I believe this project will succeed.
Thank you all.
Greetings to all attendees and guests!