Prospects Brighten: State economy set to thrive, currency value to surge in post-sanctions and trade challenges

If people can overcome difficulties in commodity flow due to economic sanctions and committing lack of peace and stability, State economy will improve with a better trade process, increasing the value of national currency, said Senior General Min Aung Hlaing.



The Union government meeting 4/2024 took place at the SAC Chairman Office in Nay Pyi Taw yesterday morn­ing, with an address by Chairman of the State Administration Council Prime Min­ister Senior General Min Aung Hlaing.


In his speech, the Senior General revealed that the government is striving to foster peace and stability with the rule of law, managing fair prices of foodstuffs and personal goods and ensuring the country’s strong currency value.


He continued that Myanmar is fac­ing economic sanctions and blocking trade routes to delay commodity flows due to a lack of peace and stability com­mitted by some unscrupulous persons.


The Prime Minister recounted that the country experienced a shortage of rice and paddy, similar to regional coun­tries in the 1967-68 financial year due to climate change, yielding just 28.3 baskets of paddy per acre.


As such, he added that the govern­ments in successive eras have been striving to boost the per-acre yield of paddy.


He pointed out that if farmers can systematically develop cropping pat­terns, agricultural productivity will im­prove in the nation to ensure food secu­rity at home and support food supplies to the international community.


In the cooking oil sector, the Senior General also instructed officials that a high per-acre yield of oil crops will help fulfil cooking oil requirements at home, reducing spending on foreign currency.


With regard to the cotton cultivation sector, the Prime Minister pointed out that manufacturing quality threads from cotton wool at home can minimize the import volume of threads and textiles.


Moreover, he stressed that individu­als need to establish forests in relevant village-tracts to reduce natural disaster risks to some extent while preventing deforestation through the national spirit.


In the education sector, the Sen­ior General said that basic education schools in some regions are facing delays in learning for various reasons and need to make preparations for the reopening of schools and resumption of learning.



Moreover, he disclosed a plan to confer deserved degrees for the training courses conduct­ed by relevant ministries and uplift the nation’s sports stand­ards, enhancing the qualification of coaches.


Union ministers discussed efforts for manufacturing cotton oil mills and cotton ginners at home, and production of cook­ing oil and quality threats from cotton crops, financial measures and sending labourers abroad.


The meeting was also at­tended by the Nay Pyi Taw Coun­cil Chairman and region and state chief ministers through videoconferencing. — MNA/TTA