MT News
The domestic economy is improving, and if we continue to make efforts, it will improve further, State Administration Council Chairman Senior General Min Aung Hlaing said during the meeting with businesspersons of micro, small and medium scale enterprises (MSME) in Dawei District of Thaninthayi Region held on 4 November.
In the past, various economic systems were adopted in the country, and there were successes as well as failures. In its time, the Tatmadaw government exercised market economy. As our country is taking the path to multi-party democracy, it is necessary to continue exercising market economy, the SAC chairman said.
Without much encouragement of domestic manufacturing previously, the country saw large trade deficits. Our country had already had a lot of good prospects for achieving success in national economy. Foreign exchange can be spent through foreign loans, foreign cash assistance and income from non-trade activities, he added.
When we took office, we faced a lot of difficulties, but managed to overcome and promote domestic economy. Agricultural and livestock activities were allowed during the COVID-19 period to ensure business operations without cessation. So, there was no harm to domestic sufficiency. Agricultural and livestock breeding is the most viable business in our country. The reason we are encouraging MSMEs is to promote national economy, substitute imports and export local products, the SAC chairman continued.
At present, the domestic economy is improving, and if we continue to make efforts, it will improve further. That is why we are encouraging MSMEs that are engaged in manufacturing activities. For the development of the country’s economy, we must encourage the economy of the rural people who are engaged in agricultural and livestock activities. Through this, financial circulation will improve and the country’s economy will increase. Two political processes: strengthening the multi-party democratic system full of genuine discipline and building a union based on democracy and federal system, have established and two national processes: national prosperity and food security, have established.
