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Myanmar to work for increased foreign investment in new gov't tenure: minister

Xinhua, March 30, 2016 Adjust font size:

Myanmar will work for increased foreign investment in the new government tenure, said newly-appointed Minister of Planning and Finance U Kyaw Win on Wednesday.

Myanmar needs better monetary and financial policies especially to boost small and medium enterprises (SMEs) in development of the country's economy, U Kyaw Win told Xinhua in an exclusive interview after he was sworn in to office along with other cabinet members.

To develop SMEs, he said, investment is the key requirement, adding that Myanmar will encourage foreign banks to investment in Myanmar.

By taking their experiences, it will improve Myanmar's banking sector, he said, believing that by systematically providing loans to the SMEs, production will go up, thus boosting the gross domestic product (GDP).

He disclosed that the new government will give priority to implementing undertakings that will promptly benefit the people. Endit