THE industrial sector has been urged by the Government to advance its position alongside other economic sectors, such as the agricultural and service sector, and play a more dominant role in Myanmar’s economic growth.

Speaking at the 12th annual general meeting of the Myanmar Industrial Association (MIA) in December, Lieutenant General Myint Swe, chairman of Yangon Division Peace and Development Council, said diversifying Myanmar’s economic base was a key platform to growth.

Myanmar’s economy is currently largely dependent on the agricultural sector, which accounts for more than 50 per cent of gross domestic product, Lieutenant General Myint Swe said. “The development of industry plays an important role in achieving economic growth and becoming a developed nation,” he said.

MIA president U Myat Thin Aung said the industrial sector contributed nine per cent of GDP in the 2004-2005 fiscal year, 72 per cent of which came from private businesses.

As the majority of Myanmar’s industrial exports were raw materials or semi-finished products, more emphasis should be placed on producing fully-manufactured goods for export, he said.

Lieutenant General Myint Swe said import substitution measures were currently in place with the domestic production of agricultural machinery, consumer goods and food that was previously being imported.

Eighteen industrial zones have been established throughout the country to promote the industrial sector and create job opportunities, he said.

“At present, the most important thing for the industrial zone is to get an adequate electricity and fuel supply,” Lieutenant General Myint Swe said.

More than 450 mega watts of electricity are needed for the 10 industrial zones as well as for residents in the Yangon vicinity but only 420 watts is currently being provided, of which 380 mega watts can be applied at a time.

“Projects are underway to provide 5000 mega watts (nationwide), not only for consumption by the industrial sector but also for domestic, personal consumption. So far, more than 840 mega watts can be provided across the country,” Lieutenant General Myint Swe said.

The MIA was established in 1993 to represent private sector industrialists and has 3100 members, up from 2900 in 2004.