19Feb

Let’s reap potential of China-Myanmar cooperation

Since Myanmar embarked on its political transition, political elites in the country have championed that peace is the premise for economic and social developme

nt. In the first two years of the government led by National League for Democracy (NLD), Nay Pyi Taw devoted a lot of efforts to promoting national recon

ciliation with the hope of making a major breakthrough and consolidating public support. Regrettably, results are no

t satisfactory. The NLD government is currently locked in a stalemate over national reconciliation.

It has also performed poorly in boosting the economy and improving people’s lives. Main economic indicators suggest that since the N

LD government assumed power, Living standards haven’t substantially improved, and more economic problems have surfaced to plague the c

ountry. One of the main reasons why the NLD lost seats in the 2018 elections is the government’s lackluster economic performance. If the e

conomy doesn’t improve, it will inevitably affect the NLD’s potential for victory in the 2020 election.

Therefore, the NLD government is now attaching increasing importance to economic and live

lihood issues. It has issued a string of policies to attract foreign investment. Take the new Myanmar

Companies Act. Under the law, foreigners are permitted to take up to a 35 percent stake in local companies and bus

inesses with foreign stakes of more than 35 percent will be classified as a foreign company, which facilitates co

operation between foreign investors and local businessmen and will help attract more foreign investment.

chinaherb.cc