Special Report: Global Financial Crisis

    YANGON, Dec. 10 (Xinhua) -- The official newspaper New Light of Myanmar Wednesday stressed the need for the country to work for more savings and investment in face of the current global financial crisis.

    "Myanmar is enjoying dramatic progress in savings and investment which are crucial for its development. Foreign investment in the nation is also on the gradual increase, the paper said in its editorial, emphasizing that during the global economic crisis, all the countries, developed and developing, have to remain harmonious.

    Noting that the current global financial crisis of a Western country has adverse effects on other countries, the editorial pointed out that European and some Asian countries also face evil, consequences of the crisis.

    The editorial called on all developed and developing countries to make collective efforts to ensure progress of savings and investment for the development the nation concerned.

    Meanwhile, Myanmar Prime Minister General Thein Sein has urged the country's citizens working abroad to come back home for jobs when they are unemployed there out of global financial crisis, saying that workers are still in demand in some sectors in the country and jobs are ready for them.

    Noting that Myanmar has no contact with West bloc banks and monetary organizations, he held that there will be no loss in the monetary sector as the foreign loans are few compared with other countries.

    He also denied economic effect on the country as the government is building infrastructure on self-reliant basis with its own technology and money.