Myanmar's Ministry of Investment and Foreign Economic Relations on Monday held its first coordination meeting to increase investment enterprises efficiency in a bid to boost the country's economy.

The meeting also aimed to coordinate the implementation of policies and procedures for the promotion and facilitation of investment set by the ministry and to effectively coordinate the implementation of loans and assistance from regional economic cooperation and development partners.

"Under the leadership of the ministry, efforts are being carried out to develop and publish the Standard Operating Procedure (SOP) of Department Cooperation Team in collaboration with the relevant departments," said Union Minister U Aung Naing Oo at the meeting.

"Efforts are needed to draw the systematic plans to carry out the ministry's responsibilities in coordinating for receiving international loans and assistance for the development of basic infrastructure," he added, stressing that active participation is needed in the Association of Southeast Asian Nations (ASEAN) and regional cooperation.

Myanmar recently approved 15 new projects including a program with large investment capital in power generation.