Vice President U Myint Swe met with entrepreneurs in Yangon yesterday, calling for close cooperation between the government and businesses for the development of the private sector.
The vice president made the remark in his opening address at the 15th meeting with leaders of the private business sector at the Union of Myanmar Federation of Chambers of Commerce and Industry yesterday.
The two sides had held a meeting in October 2016, when businesspersons submitted 225 points of their difficulties to the union government.
U Myint Swe pledged to solve the remaining points of difficulties through the private-public dialogue model.
In his opening address yesterday, U Myint Swe also invited the private sector to cooperate with the government in its efforts to ease rules, promote small and medium enterprises, develop the trade sector, provide vocational training and build infrastructure.
Reforming the private sector plays an important role not only in the country’s economic sector but also in promoting the socio-economy of the people, because more than 90 per cent of the country’s economy relies on the private sector, said Vice President U Myint Swe.
The value of foreign trade has reached more than US$28.6 billion until February this fiscal year, registering an increase of more than $4 billion compared with the same period last year.
In the trade sector, more than $23.6 billion came from the private sector, making up 83 per cent of the foreign trade.
The vice president also thanked the peasants and traders for achieving a record high of rice exports in 70 years.
He also informed the private sector that the union government had formed 11 groups, led by the deputy minister for commerce, aiming to raise Myanmar’s spot in the Ease of Doing Business Report of the World Bank.
During the meeting, the two sides discussed obstacles faced by the private business sector and matters related to the development of the fuel, rubber and fishery sectors.