Myanmar claims "opening new economic era"

Myanmar President U Thein Sein claimed on Friday that his country is opening a new economic era and will use new international loan assistance in a transparent manner for public interest.

Noting that Myanmar could reduce international debt of over 6 billion U.S. dollars after successfully coordinating with major donor countries apart from World Bank, International Monetary Fund (IMF) and Asian Development Bank (ADB), Thein Sein recognized in his radio public speech to the nation the help of Paris Club member countries including Norway and Japan.

Recalling that Myanmar did not get international loan assistance due to many decades-long economic sanctions and claiming now that Myanmar can get the loans, Thein Sein said, " funds of dollars in millions will be used for standing tall as a responsible country, poverty alleviation for country development, construction of schools, hospitals, roads and bridges, power generation and supply of potable water."

Underlining that Myanmar could take an important step towards re-entry into international monetary market and economic community, Thein Sein said the progress is also a first step to take Myanmar out of Less Developed Country (LDC) list.

He outlined that plans are underway for development of small and medium enterprises (SME) which is crucial for economic development and poverty alleviation.

He underscored the hosting of the First Myanmar Development Cooperation Forum in January which produced the Nay Pyi Taw Accord for effective cooperation.

Attributing the present political achievement to collaboration of the government, the parliament, the armed forces, civil society organizations and the entire people, Thein Sein said "democracy cannot be practiced just by holding elections. It means the knowledgeable entire people can make their own choice without suppression and restrictions," stressing the importance of well- organized and disciplined civil society organizations.

He revealed government's intention to resurrect the civil society organizations that took an important part in successive eras.

He specially emphasized political stability, internal stability and national unity to make success of reform efforts.

He warned that it is high time to enter negotiation table and find solution to stop loss and damage and establish genuine peace with regard to internal armed conflicts.

He urged the entire national people to surmount the challenges together with the government.