Govt seeks economic ideas

Min Thiha Zaw and Nilar
Business chiefs discuss how to boost the economy. (Photo-UMFCCI)

The government has invited suggestions from businesses about ways to develop the economy in 12 months, according to the Federation of Chambers of Commerce and Industry (UMFCCI).

The UMFCCI and representatives from its sister associations held a meeting in Yangon discussing suggestions from businesses about ways to regain momentum in economic growth. They were given until July 27 to compile their suggestions.

Areas where help was requested include tax and revenue issues which need to be amended, solving difficulties and hurdles in business transactions, relaxing departmental procedures and ways to ease work processes.

On July 12 a meeting of the Private Sector Development Committee took place at the Ministry of Commerce in Nay Pyi Taw. It heard that 102 suggestions submitted by entrepreneurs had been sent throughout government.