Jul 17, 2011

Myanmar promotes industrial development

Myanmar is working to raise the role of private and public sectors in its efforts for industrial development, official media reported Friday.

"Only with industrial development will there be technological development, poverty alleviation, more and more job opportunities, and national economic development in compliance with the guidelines of the President," the New Light of Myanmar quoted Union Minister of Industry-2 U Soe Thein as saying.

"Myanmar is working hard for industrialization through agricultural development," U Soe Thein, who is also chairman of the Committee for Industrial Development, told the committee.

He called for cooperation between regional governments and private associations for the aim.

Myanmar is making harmonious efforts to shape the country as an industrialized nation by operating all factories at full swing to be able to manufacture the marketable products.

Myanmar's industrial sector contributes about 20 percent to the gross domestic product and private sector's contribution to the industrial sector stood 92.36 percent, statistics show.

According to the Myanmar Investment Commission, Myanmar national private companies made most investment in the sector of industry

Source: Xinhua


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