Providing humanitarian assistance does not end with mitigation but it should be integrated into the social protection system.
Senior General Min Aung Hlaing emphasized that rehabilitation efforts in earthquakes are necessary to approach the work with the belief that it is not about focusing on the financial costs, but rather about making greater, more reliable, and more resilient investments than before.
Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing delivered a speech at the opening of the Forum on Rebuilding Myanmar: Post-Earthquake Economic Recovery at Mingala Thiri Hotel in Nay Pyi Taw yesterday morning.
Before the opening ceremony, all attendees watched a video clip on the Rebuilding Myanmar: Post-Earthquake Economic Recovery.
The Senior General and attendees observed a one-minute silence for the victims of the people in the Mandalay earthquake.
At the opening of the forum, the Senior General delivered a speech. He said: It’s two months now that Mandalay’s catastrophic earthquake registering 7.7 on the Richter scale hit Myanmar, during which 3,739 lost their lives while 5,104 others were injured, with 68 people still missing. As the Mandalay earthquake was found to have caused dramatic damage, I took immediate action, requesting assistance from within and outside the country to provide relief and aid. In response to my request, 21 nations have sent 3,109.317 tonnes of relief supplies, relief workers numbering 1,070, and healthcare technicians and doctors numbering 287 to conduct relief activities.
A total of 26 nations have sent relief workers and aid via all three modes of transportation—air, sea and land as soon as the earthquake hit us. According to the calculations, the losses amount to K3,629.208 billion.
We gather here today not to demonstrate our melancholy over our substantial losses but to seek ways to survive like the phoenix that could have resurrected as well as how to rebuild.
And I would like to emphasize that today’s forum is not only a venue for the talk show but for laying down the foundation for achieving a roadmap. At this juncture, I would like to deal with the three strategic pillars which ought to be erected on the basis of our views in our endeavour to remedy the economy in the post-earthquake era.
The first pillar is concerned with humanitarian relief and social protection whereas the second and the third pillars are related to infrastructure reconstruction and economic revival and reform anchored in resilience and inclusivity correspondingly.
The disastrous earthquake has had a direct impact upon 600,000 people or so with thousands of people having been forced to move out of their places.
Notwithstanding, providing humanitarian assistance does not end with mitigation. This type of assistance should be integrated into the social protection system.
As mentioned above, the second pillar is concerned with infrastructure reconstruction and economic revival. The amount of losses in the economic sector caused by the outbreak of the earthquake has accounted for an astronomical figure. The roads were badly damaged, and the bridges collapsed. The agricultural sector is not spared either. From MSMEs to factories and work establishments as well as big enterprises,
the earthquake has damaged them all.
There can be opportunities among the difficulties. Rehabilitation should be focused on the five main areas: transport, energy, agriculture, telecommunications, and public buildings. While rebuilding the infrastructure, we should focus on the revival of the MSMEs, which can be said to be the backbone of the economy of Myanmar.
With regard to the third pillar reform and global partnership, rehabilitation shall go beyond physical rehabilitation. Rehabilitation should be extended to include reform and reconstruction. In doing so, we ought to conduct three long-term approaches: preparedness for natural disasters, inclusive of earthquakes; financial accountability; and comprehensive development.
When it comes to disaster preparedness, we should draw an updated national disaster map indicating the high-risk locations. Early warning systems shall be installed. The relief process should be redesigned with the use of modern technology.
Concerning financial accountability, the allocation of the rebuilding funds shall be transparent. Furthermore, a monitoring mechanism shall be established to reduce losses and wastages as well as to effectuate development.
With regard to the third approach, which is comprehensive development, development shall be affected to include the women, the ethnic minorities and the entire mass of the people.
Rebuilding means not only repairing the damaged buildings and making efforts to ensure economic recovery but also building a secure and safe nation in the future. We want the support of the regional and international partners. And we also want to invite them to invest in the new vision of Myanmar. I would like to urge them all to overcome the hardships by sticking to the motto, “We are stronger, we are together”.
In his additional discussions, the Senior General said that Mandalay Region is the second-largest economic city in Myanmar. It has medium-scale cement and steel production industries, which were affected by the earthquake. Since cement and steel are essential materials for reconstruction efforts, the government has taken steps to repair and resume operations as quickly as possible.
He highlighted that for factories and workshops to operate, there is a need for essential inputs such as raw materials, fuel and electricity, investment capital, and labour. Therefore, efforts must be made without fail to ensure business operations continue smoothly and financial flows remain healthy. As the Mandalay Region is the second largest industrial production zone, greater focus and effort must be directed toward this region.
He recounted that in the 2024-2025 financial year, there was a trade surplus of approximately $2.3 billion. However, there was a significant deficit in the non-trade sector. During our government’s four-year term, the country had a trade surplus in the first year, trade deficits in the second and third years, and a surplus again in the fourth year. Overall, there was a trade surplus across the four years. However, due to the deficits in the non-trade sector, foreign exchange rates have continued to rise.
The Senior General revealed that the government has allocated K700 billion to provide loans for earthquake-affected areas and will offer these as investment loans.
The government has a remaining balance of approximately K226 billion from the State Economic Promotion Fund, intending to disburse it effectively to ensure beneficial utilization.
He underscored that rehabilitation efforts in earthquakes are necessary to approach the work with the belief that it is not about focusing on the financial costs, but rather about making greater, more reliable, and more resilient investments than before.
Also, present at the forum were Council Joint Secretary General Ye Win Oo, council members, Union-level dignitaries, Union ministers, senior Tatmadaw officers from the Office of the Commander-in-Chief, chairs and officials from the Myanmar Narrative Think Tank and the Union of Myanmar Federation of Chambers of Commerce and Industry, international diplomats, representatives of political parties and civil social organizations, economists and officials from organizations.
After the ceremony, the Senior General viewed round photo documentary of the loss and damage caused by the Mandalay earthquake, rescue and rehabilitation operations.
The Rebuilding Myanmar: Post-Earthquake Economic Recovery aims to restore and strengthen the economic activities that were damaged by the major Mandalay earthquake; to understand the emerging domestic and international market opportunities and potential challenges in the post-earthquake period that could improve the national economy; and to leverage Myanmar’s geopolitical context and geo-economic opportunities to expand market access for locally produced goods and enhance collaboration among domestic entrepreneurs. The forum will last till 31 May.
MNA/TTA
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