Suu Kyi tries to reassure tycoons but warns that public interest comes first
STATE COUNSELLOR Aung San Suu Kyi tried to reassure business leaders that they would not face prosecution under her government at a conference in the capital.
MICC-2 in Nay Pyi Taw hosted the first meeting between Suu Kyi and entrepreneurs since the US lifted economic sanctions. She only invited the top 158 taxpayers, as many people wanted to attend the meeting.
Kyaw Win, minister for planning and finance, explained economic and investment policy. Robert Chua, the Singaporean ambassador who represents the diplomatic corps; the governor of the Central Bank of Myanmar, Kyaw Kyaw Maung; president of the Federation of Chambers of Commerce and Industry Win Aung; Nang Lang Kham, executive director of the Kanbawza Bank Ltd; and Khin Maung Aye, chairman of the Myanmar Banks Association, took part in discussions during the meeting.
Suu Kyi admitted that the country had not achieved expected economic growth. Firms should advance with a forward-looking policy, she said, while warning that the government would monitor whether businesses were working in their own interest or that of the public.
She encouraged all employers to cooperate during the political and economic transition. People were familiar with the English word “crony” from previous governments. There was criticism that the cronies had a close relationship with the government and their dealings were illegal, the state counsellor added.
Suu Kyi asked why there was so little unity of purpose and demanded that tycoons looked beyond their self-interest. She added that people should not be tied down by previous behaviour and look to the future.
The current levels of growth were unsatisfactory and below expectations for the government's first six months in office, she admitted. But foreign investment would increase when the rule of law was established and qualifications were improved.
She said the meeting was to explain strategy for the next 10 to 20 years as her government's 12-point economic policy was too general. Myanmar was lucky in that many countries wanted to extend a helping hand and they should seize the opportunity and tackle corruption, she said.
Business owner Dr Soe Tun said: “The explanations were general. It is questionable for other sectors as the meeting mainly focused on the banking sector.”
Also attending were Nay Shwe Thway Aung, the grandson of the former senior general Than Shwe; chairman of the parliamentary Legal Affairs and Special Cases Assessment Commission Thura Shwe Mann; and Auditor General Maw Than.
