Myanmar stresses importance of rule of law for national development

YANGON, March 12 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has stressed the importance of rule of law and its effect on national development, calling for enforcing rule of law to achieve peace for development.

Addressing the Conference on Justice Sector Coordinating for Rule of Law in the capital of Nay Pyi Taw, Suu Kyi said genuine rule of law will bring a level playing field to both foreign and domestic businesses which will encourage investment and drive the country’s development.

Despite great challenges, Myanmar is working tirelessly to establish its rule of law and national peace, anticipating prospects for both foreign and domestic investment to grow.

According to statistics, foreign investment in Myanmar reached over 5.2 billion U.S. dollars in the current 2017-18 fiscal year as of January, likely to meet its target of 6 billion U.S. dollars in March, the end of the fiscal year.

The investment includes that injected into the Thilawa Special Economic Zone in Yangon, totaling 1.7 billion U.S. dollars for the zone so far.

Foreign direct investment (FDI) usually enters into Myanmar’s agricultural, livestock and fisheries, manufacturing, power, transport and communication, hotel and tourism and real estate sectors.

In the last FY 2016-2017, the country attracted over 6.8 billion U.S. dollars foreign investment with the transport and communication sector topping with 3.08 billion U.S. dollars.

Foreign investment totaled 75.09 billion dollars as of December last year since late 1988.

Potential investors are concerned about the stability, peace and rule of law for them to make investment.

Regardless of the complexity of the situation, Myanmar prioritizes rule of law, peace and stability and has seen improvement in investment coming into it.

“If we further enforce the rule of law, then both foreign and domestic businesses can work on the same level playing field and dispute will be resolved pursuant to established laws and procedures under a strong and transparent legal framework,” Suu Kyi said.

She called for reforming rule of law and justice sector and giving priority to the undertaking to strengthen legal profession and court system.

Suu Kyi pointed out that the benefits of legitimate and efficient rule of law delivers long-term social and democratic stability as well as supporting economic development.

She urged for establishing Rule of Law Centers across the country.

Suu Kyi stressed the need to reform the court system focusing on eliminating corruption, improved legal training and availability of legal counsel for the poor.

Commenting on the police force, the state counselor said many of the complaints sent to higher authorities are concerned with the police, pointing out that if the public do not wish to come forward about a criminal matter, the relationship and cooperation between the public and the police will deteriorate.

She encouraged relevant authorities to work seriously and diligently, not because of a complaint or suggestion submitted by the people, but because it is their duty and responsibility.

Source: xinhuanet

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