MYANMAR CALLS FOR USABC SUPPORT FOR ECONOMIC DEVELOPMENT

12 Jul 2013 11:19
YANGON, July 9 (Bernama) -- Myanmar's President U Thein Sein says his country is striving to reduce poverty rate by 16 percent in 2015 and has called for the support of U.S.-ASEAN Business Council (USABC) for Myanmar's economic development, Xinhua news agency reported official media as saying. At a meeting with a business delegation led by USABC president Alexander Feldman in Nay Pyi Taw on Monday, U Thein Sein said cooperation in technology and investment could bring mutual interest as Myanmar has huge economic potential. Besides rich natural resources and adequate manpower, the president said Myanmar's strategic location also offers a huge market for global investors eyeing South Asia and Southeast Asia. On information, communication technology and telecommunications sectors, U Thein Sein said the government is cooperating with local operators to ensure 80 percent of its population has access to mobile services by 2015. On his part, Feldman expressed hope for more economic success in Myanmar where the council has started doing business since a year ago, with investment to be made in priority areas such as health and education. In July 2012, the USABC organised a historic business mission to Myanmar involving more than 70 senior executives from 38 leading U.S. companies to explore the business environment here. The council represents over 100 major U.S. corporations, including those which have been active in Southeast Asia for over 100 years and newcomers looking to expand their presence in one of the world's most dynamic markets. Myanmar and the U.S. reached a new bilateral agreement for economic cooperation last month, materialising U.S. President Barack Obama's November 2012 pledge to provide a US$170-million aid to Myanmar in the next two years. --BERNAMA EE