Myanmar PM stresses industrial development of private sector

Myanmar Prime Minister General Soe Win has stressed the need for prosperous industries of the private sector, said a report of the official newspaper New Light of Myanmar Sunday.

Coordinating with members of the Industrial Development Committee (IDC)recently in the new capital of Nay Pyi Taw, Soe Win said that the state is starting to transform the agro-based industry into the industrialization, making arrangements for the development of the electric power sector in conformity with that of the industrial sector.

Soe Win, who is also IDC Chairman, said that the government had to be responsible for large- and medium- scale production of electric power and entrepreneurs of the private sector were permitted to produce electricity on a medium scale and micro scale. He added that at present, localized and nationalized plans are being implemented to carry production and supply of power.

He also disclosed that a plan is underway to extend power facility of the national grid by linking the electricity to be generated from hydropower plants to ensure development of major industrial establishments such as Myaung-daga fertilizer plant and Thanlyin and Thilawa special industrial zones in Yangon.

Pointing out that the industrial sector contributed 17.5 percent to the gross domestic product (GDP) of the nation in the fiscal year 2005-06, he called for sustained efforts to be made to develop the industrial sector's contribution towards the GDP by 18. 9 percent in the current fiscal year of 2006-07 which began in April.

He said private sector 's contribution to the industrial sector as 92.36 percent.

He pledged to continue to practice the policy of promoting the private sector, saying that the electric power plants built in the third five-year plan have been operating beginning this year and will produce electricity with increased momentum year by year.

He reiterated his call on the private sector, organizations concerned and the government to strive in harness to raise the industrial sector, enhance the industrial development and to ensure take-off.

Source: Xinhua