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Myanmar opening new economic era: Thein Sein

Myanmar,Business/Economy, Fri, 01 Feb 2013 IANS

Yangon, Feb 1 (IANS) Myanmar President U Thein Sein Friday said his country is opening a new economic era and will use new international loan assistance in a transparent manner for public interest.

Noting that Myanmar could reduce international debt of over $6 billion after successfully coordinating with major donor countries, Thein Sein recognized in his speech on radio to the nation the help of Paris Club member countries including Norway and Japan, reported Xinhua.

Thein Sein said: "Funds of dollars in millions will be used for standing tall as a responsible country, poverty alleviation for country development, construction of schools, hospitals, roads and bridges, power generation and supply of potable water."

Underlining that Myanmar could take an important step towards re-entry into international monetary market and economic community, Thein Sein said the progress is also a first step to take Myanmar out of Less Developed Country (LDC) list.

He outlined that plans are underway for development of small and medium enterprises (SME) which is crucial for economic development and poverty alleviation.

Attributing the present political achievement to collaboration of the government, the parliament, the armed forces, civil society organizations and the people, Thein Sein said: "Democracy cannot be practiced just by holding elections. It means the knowledgeable entire people can make their own choice without suppression and restrictions."

He revealed government's intention to resurrect the civil society organizations that took an important part in successive eras.

He specially emphasized political stability, internal stability and national unity to make success of reform efforts.

He warned that it is high time to enter negotiation table and find solution to stop loss and damage and establish genuine peace with regard to internal armed conflicts.

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