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Myanmar president urges avoidance of impediment to foreign investment
Xinhua | March 01, 2013 12:38
By Agencies
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Myanmar President U Thein Sein Friday urged people of the country to cooperate with the government to avoid impediment to foreign investment in light of soon flow-in of the investment into the country.

In his regular monthly speech to the nation through radio, U Thein Sein said efforts are being made for increasing more job opportunities for youths.

He pointed out that there are a number of graduated youths, those who have no access to the universities and those who have completed the grade-II.

For youth's job creation, he stressed that the country needs lots of industrial zones, workshops, factories, hotel and tourist industry and mechanized farmland.

Myanmar's contracted foreign investment amounted to 1.068 billion US dollars in the calendar year of 2012, falling sharply by 7.396 billion dollars compared with 2011 when it was registered as 8.464 billion dollars, according to the latest official monthly indicators.

Other official figures revealed in October 2012 showed that Myanmar's actual existing foreign investment registered 31.068 billion US dollars as of September 2012.

Meanwhile, Myanmar promulgated a new foreign investment law in November 2012 replacing the over-two-decade-long 1988 similar law in a bid to increase attracting foreign investment to the country in line with its reform strategy.

Touching on domestic peace process, U Thein Sein informed the country's people in his speech that not only ceasefire but also political dialogue could be reached when peace talks with ethnic armed groups including the Kachin Independence Organization (KIO) will be held in the not-too-distant future.

He added that cooperation will be made to move towards a national-level meeting through the political dialogue.

He assured that the government will simultaneously open space for participation of individual organization or citizen in the peace process.

Dealing with the prisoners still held, U Thein Sein said a scrutiny committee of remaining prisoners has been formed to work transparently and will organize family reunion of the prisoners imprisoned for their different ideologies by the previous administration and help them enjoy their freedom like any other citizens and participate in future reform.

He urged the people to be in harmony with swift and dynamic reform, emphasizing the need for everyone to have the ability for forgiveness, mutual understanding, sympathy and cooperation.

He specially revealed that his present tour to European countries is aimed at bringing necessary assistance for Myanmar's reform process.

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