Market is the most important thing for businesses. The government, associations and entrepreneurs need to make cooperation for the competitiveness of local products in domestic and foreign markets, said Vice-President Henry Van Thio, at the opening of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) Centennial International Expo 2019.

The government is striving for economic development after taking account of suggestions given by economic entities including the UMFCCI. For economic growth, the government is implementing the economic policies suited to the market-oriented economic system, he added.

With the aim of ensuring the sustainable development rather than individual and organizational development and short-term economic development, the government is implementing the Myanmar Sustainable Development Plan (MSDP) and has systematically laid down the goals, strategies and tasks for environmental conservation, human resources development and the emergence of peaceful and stable social environments, he continued.

The UMFCCI is holding the UMFCCI Centennial International Expo 2019 at Fortune Plaza (Myanmar Exp) in Thaketa Township in Yangon from September 20 to 22.

The UMFCCI partly contributes to the economic development of the country. The expo aims to set up a link between local and foreign entrepreneurs, help home-made products penetrate the international market and import the high-quality products into the local market.

Vehicles, electronic equipment, construction materials, home decoration, cosmetics, garment, transport and information technology are on show by Germany, the Netherlands, Japan, South Korea, China, Malaysia, Thailand, Vietnam, Taipei and local entrepreneurs.

The UMFCCI held its special annual general meeting at its headquarters in Yangon on September 21.