[Date Prev][Date Next][Thread Prev][Thread Next][Date Index
][Thread Index
]
NEWS-Myanmar to Manufacture More Im
Myanmar to Manufacture More Import-Substitute Products
Xinhua
14-JAN-98
YANGON (Jan. 14) XINHUA -
Myanmar leader Lieutenant-General
Tin Oo has urged entrepreneurs in
the country to give priority to
establishing mills and factories which
can manufacture import-substitute
products.
Meeting with members of the
Myanmar Industrial Development
Committee (MIDC) Tuesday, Tin Oo,
second secretary of the State Peace
and Development Council and patron
of the MIDC, also stressed the need
to manufacture quality products of
export items and enhance the role of
private industrial sector, the official
newspaper The New Light of
Myanmar reported Wednesday.
The MIDC, formed in July 1995, was
reorganized recently to accelerate
implementation of the country's
industrial projects.
According to official statistics,
Myanmar's industrial growth reached
5.2 percent in the 1996-97 fiscal
year, the first fiscal year of the
present five-year plan. The country
has set a target of 10.7 percent
growth for the industrial sector in
1997-98, the second year of the
five-year plan.
The statistics also show that the
industrial sector accounts for 9.2
percent of the gross domestic
product. The sector has 49,201
industrial enterprises in fiscal
1996-97, of which 3.3 percent were
state-owned, 95.4 percent private-run
and 1.3 percent
cooperative-operated.
The government has called for
greater efforts for promoting the
private sector's involvement in the
industrial sector and for establishing
industrial zones throughout the
country, especially in the capital of
Yangon, to attract foreign
investments to the sector.