CNI News
23 January 2024
That the State Administration Council has extended six months to the state of emergency will expire on 31st January 2024 and if the SAC was not able to create a new political landscape, Myanmar economy would be more affected, reviewed economic and political circles.
If the SAC extended the state of emergency for another six months, the current political instability could be worse and the economy also could decline more, said businessmen.
However, if the SAC was able to tackle the peace issues successfully during another six months after forming an interim government, the economy could be a little better again, U Thet Zaw, Myanmar economic commentator, told CNI News.
While seeing the manufacturing industry
" We'd like to see a political change. If another six months are extended like before, instabilities will be worse, we have estimated. We want to see a government that can change the situations. An interim government might not make the economy much better. But if it was able to tackle the peacemaking issues successfully, the economy could be recover a bit after re-opening the border trade. It takes at least two years for the economy to recover. It's necessary to invite foreign investments. But about two years after an elected government comes to power, we can do so, we think." said U Thet Zaw.
At present, because the political problem is affecting the economy, only if the political problem could be solved first, the economy would be convenient, pointed out businessmen.
If the political problem was solved, international relations could be better built and international investors could believe more to invest in the country.
Moreover, instead of exercising the way to improve each sector that was used by successive governments, it was necessary to better the whole economic system, U Htay Aung Kyi, a banking expert, told CNI News.
While seeing the garment industry
" If the political problem is solved, international relation will be convenient. Economic environment will better again. And then we must have the confidence of investors. People can work again. In relation to SMEs, successive governments have thought about things relating to SMEs and so have hotel and tourism since our childhood. Thinking like that doesn't get to the root of the problem. The basic reason is that the economic system must be improved. Whether the political system is good or not, politics must be stable." said U Htay Aung Kyi.
Economic experts within the country are currently teaching in universities and other facilities and their role has been weak to promote the economic development.
It was necessary to assign economic experts not only in universities but also in departments and other places. Moreover, economic academics and political scientists needed to take part in the trends, pointed out economic analysts.
