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Burma's Thein Sein unveils economic reform package | Burma's Thein Sein unveils economic reform package |
(40 minutes later) | |
Burma wants to loosen the state's grip on the economy, its president, Thein Sein, has said, outlining a "second wave of reforms" to focus on development after decades of stagnation. | Burma wants to loosen the state's grip on the economy, its president, Thein Sein, has said, outlining a "second wave of reforms" to focus on development after decades of stagnation. |
The former general, who is credited with spearheading the biggest economic overhaul in Burma since taking office, most notably bringing in a managed float of its currency, said a new investment law would soon be enacted in parliament. | |
"In the first year of power, the national government has been speedily working on political reforms and national reconciliation," Thein Sein said in a televised address. | "In the first year of power, the national government has been speedily working on political reforms and national reconciliation," Thein Sein said in a televised address. |
"From this year onwards, we are working on a second wave of reforms which will focus especially on the development of the country and the public. | "From this year onwards, we are working on a second wave of reforms which will focus especially on the development of the country and the public. |
"On the other hand, we will continue to work on national reconciliation, national peace and stability and the rule of law, and the safety of the public." | "On the other hand, we will continue to work on national reconciliation, national peace and stability and the rule of law, and the safety of the public." |
Thein Sein said there was a need to consider reducing the state's role in several key industries, including telecommunications, electricity, energy, forestry, education, health and "financial matters". | |
"The privatisation that is in the second wave of government reforms does not mean we are going to break them up and sell them." | "The privatisation that is in the second wave of government reforms does not mean we are going to break them up and sell them." |
He said the government aimed to triple GDP per capita by 2015/16, and there was a need for more foreign help in terms of aid and expertise to boost the economy. | He said the government aimed to triple GDP per capita by 2015/16, and there was a need for more foreign help in terms of aid and expertise to boost the economy. |
"If you observe developing nations, the government's budget alone is not sufficient to achieve their development goals … that alleviate poverty and require international grants, aid, loans and technical expertise." | "If you observe developing nations, the government's budget alone is not sufficient to achieve their development goals … that alleviate poverty and require international grants, aid, loans and technical expertise." |
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