Terming the development partners as stake holders rather than donors, U Thein Sein stressed the need to build mutual trust between the government's foreign aid management committee and international donors.
He highlighted the importance of the development of strategies and tactics best suited for a local context.
At a meeting of the Central Committee for Foreign Aid in Nay Pyi Taw on Monday, the president revealed that poverty alleviation and social economic improvement of the rural population that makes up 70 percent of the total are priorities in the government's development scheme.
Noting that the government has been working on its framework on economic and social reforms through a people-centered approach for 34 months, U Thein Sein said it has set accessibility of electricity and water, agricultural development, employment, tourism development, monetary sector development and trade and investment as priorities for the last 26 months of the current presidential term.
He said that international grants, loans and technical assistance flowing into the country have resulted in a shift from the government-funded development projects to projects funded by international development partners.
According to the president, Myanmar will organize the second Myanmar Development Cooperation Forum later this month.
Official statistics show Myanmar's foreign investment reached 44.21 billion US dollars as of the end of September 2013 since 1988.
Myanmar promulgated a new foreign investment law in November 2012, replacing the over-two-decade-long 1988 similar law in line with its reform strategy.
source: Global Times
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