Myanmar President calls for cessation of armed conflicts

Yangon: Myanmar President U Thein Sein has called for political stability, cessation of armed conflicts and socio-economic development of the people in the country, official media reported Monday.

Speaking in Dawei, in Myanmar`s southern Taninthayi region Sunday, Thein Sein expressed his hope that Taninthayi region would achieve development, said the New Light of Myanmar. He underscored the need for qualified human resources who could harness rich natural resources, reported Xinhua. Foreign investments with substantial capitals and technologies have been invited but there is a lack of regulations in allowing foreign investments which could beset more adverse consequences than favourable outcomes, he said. The Foreign Investment Law, which is one of the integral parts of legislation, has been enacted, he said. Referring to the UN Millennium Development Goals, he stressed the need to reduce poverty rate from 26 percent to 16 percent by 2015. There are over 1,200 villages in Taninthayi region and over 60,000 across the nation. IANS