Wednesday, 9 April 2014

Myanmar Business Forum to be formed for private sector improvement

Plans are underway to form Myanmar Business Forum designed to improve on the private economic sector, according to the Union of Myanmar Federation of Chambers of Commerce and Industry.

The MBF Secretariat has already been organised and its working groups will soon be activated.

Once fully functional, the MBF will draft and enforce rules and regulations aimed at problem solving. It plans to convene face-to-face meetings twice a year.

In his February 2014 meeting with entrepreneurs, President Thein Sein instructed for the MBF formation.

Win Aung, chairperson of the chambers of commerce, said the MBF is expected to report on the conditions of entrepreneurs and to support the development of the economic sector.

Representatives of private businesses and the state officials are slated to meet with President-led delegation once every six months, he said.

International Finance Cooperation (IFC) would provide technical support to the chambers of commerce in forming the MBF.

IFC has been successful in supporting the similar forums in 13 countries, including those in ASEAN such as Laos, Cambodia and Vietnam.

source: Eleven Myanmar
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