CNI News

31 July 2024

According to the current situation, the cooperative system was the most appropriate to improve the economy of the country, said Sr-Gen Min Aung Hlaing, chairman of the State Administration Council at the meeting of the Union Government held on 29th July, 2024. 

Successive governments implemented various economic systems and according to the current situation, the cooperative system was the most appropriate to improve the economic sector, he said.

"A cooperative system is a team system in which entrepreneurs or farmers with the same willingness and goals are organized as a team in which they work together; in the multi-party system, there are businesses where the government can take part in and the ones where the government cannot; in order to carry out these activities smoothly, the cooperative system is an appropriate one." said chairman of the SAC.

While vegetables are being sold

So, cooperative societies are formed and agriculture, livestock and manufacturing industries must be developed in accordance with the four methods including seed, land and water. 

And then, he wanted agriculture and livestock-based factories and workshops to be built. In building it, the government will provide capital, technology and other aids, he said.

Quality foodstuffs are being produced within the country and he wanted quality consumer goods, fabric and value-added products to be manufactured, said Sr-Gen Min Aung Hlaing, chairman of the SAC.

If the market economy of Myanmar was replaced with the cooperative system, it was necessary to clearly explain what kind of cooperative system would be replaced with. 

While the meeting of the Union Government is being held

Moreover, the system needed to be a system that was compatible with the current international landscape, said business people.

Moreover, the kind of cooperative system under the governments led by U Than Shwe and U Ne Win could further decrease the economy of Myanmar and if the cooperative system was to be implemented again, whether it was practical or not practical should be reviewed, pointed out economic analysts.

Section-35 of the 2008 Constitution has imposed that the economic system is the market economy. 

On the other hand, State organizations, regional organizations, cooperative organizations, joint ventures, privately-owned industries and all economic elements have been allowed to participate in businesses, said in Section-36 (a) of the constitution.