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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.