YANGON: President U Min Aung Hlaing (pic) has called for greater reliance on domestic resources and production rather than foreign grants and loans to strengthen Myanmar’s economy.
Speaking at a Union Government meeting in Naypyidaw, the president said economic growth should be driven by boosting domestic manufacturing, increasing exports and making greater use of locally available raw materials.
He urged ministries and regional authorities to provide accurate economic data and develop practical plans based on ground realities. He also called for greater investment in agriculture, livestock breeding and agro-based industries, with a focus on import substitution and export-oriented production.
The president highlighted rice, cotton, oilseed crops, pulses and rubber as key sectors with potential to support economic growth. He also stressed the need to improve agricultural yields and meet regional market demand.
He said Myanmar should not depend on foreign assistance and loans, but should utilize its own resources and human capital to achieve sustainable development. He also emphasised education and vocational training as essential for building a skilled workforce.
On trade, he called for faster and smoother movement of goods, stronger action against illicit trade and closer checks to ensure imported and exported goods meet quality standards. - Eleven Media/ANN
