Myanmar President Office forms economic remedy committee for Covid-19

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Myanmar formed a working committee to draft a plan to remedy the possible economic impacts caused by Covid-19, through cooperation between the government ministries and organizations, according to a statement by the President Office on 13 March.

The working committee is chaired by Union Minister for Investment and Foreign Economic Relations U Thaung Tun while Union Minister for Planning, Finance and Industry, Union Minister for Labour, Immigration and Population, Union Minister for Commerce, Governor of the Central Bank of Myanmar, Deputy Minister for Hotel and Tourism, Permanent Secretary of Ministry of Transport and Communications and Director-General of the Ministry of Commerce, serve as members and Permanent Secretary of Ministry of Investment and Foreign Economic Relations, secretary.

The committee is tasked with six duties. It aims to take emergency measures and draft short-and long-term plans for declining trade and tourism, create new jobs for jobless workers and give vocational training to them, to seek ways of importing raw materials from other countries instead of single reliance on China as the similar incidents like Covid-19 may occur in the future. As a long-term expectation, it needs to implement the supply chain system through the establishment of weaving, knitting, dyeing and sewing industries and cooperation between the government and private sector. The committee is to submit its reviews to the President Office on tax exemption and tax reliefs if the Covid-19 has big impacts on local micro-and small-enterprises.

Read the full article at Eleven Myanmar: https://elevenmyanmar.com/news/myanmar-president-office-forms-economic-remedy-committee-for-covid-19?fbclid=IwAR0cYSJ3IAS6AHJ0yqErxVJhxcwjNekRIPH7d_FeTIIu5bg_PUei3QxC3m8

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