Economic Review: Myanmar's Past, Present & Future Condition
Aiming to share the knowledge and realize more the past, present and future economy of Myanmar, a seminar took place at UMFCCI in Yangon, Saturday.
Speaker Khin Maung Nyo (Economy) shared the local economists' reviews regarding the country's economic situation at the seminar.
SPEAKER, KHIN MAUNG NYO (ECONOMY): I share about the economists’ reviews to let know them the next government about the challenges on the economy they have to encounter and how they should reform the weak points in this sector.
The economists and business men reviewed that progress in the country's transportation sector is still weak and that makes the less production and providing assistance to SME sector is not strong.
ECONOMIST, MYAT THIEN: Although the foreign investment has been increasing, some sectors like finance, construction, and transportation sectors are still needed to be improved. If we can make these sectors to be developed, the productivity and trade will be progressed. AEC is now alive so that the productivity enhancement is very important for our country.
JOINT SECRETARY GENERAL, UMFCCI, AYE LWIN: Although the government is trying to develop the economy based on agriculture, natural resources, and other infrastructures, cooperation is still weak. The assistance for SME development is also weak as the bank interest is higher than other countries. So, I'd like to request the next government to provide more technology and finance for the SME development and take effective action on manipulating the land prices.
They also reviewed consumer protection and effective actions against the illegal trade are also essential facts for the nation's economic sector development.
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