On 22 December 2022, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) held the 31st Annual General Meeting at the Pan Pacific Hotel (Pacific Ballroom). At the ceremony, U Zaw Min Win, president of UMFCCI addressed a welcome speech. He mentioned that Executives Committee members, Central Executives Committee members, and Management Committee members for the three year term (2022 - 2025) were transparently, freely and fairly elected by members on 19 November 2022. During his terms as the president, he encouraged to establish associations according to business sectors and assisted for the development of the private sector with the support of Executive Committee members. He also believes that the new Executive Committee members can implement the better performances under the guidance of the new president.

In addition, U Aung Naing Oo, Union Minister of the Ministry of Commerce said that the cooperation between government and private sector is an essential requirement for the economic development of the country. He noticed that the greater involvement of the younger generation in the new Central Executive committee members  and the members of UMFCCI. He said that necessary training and experiences are to be handed over to young entrepreneurs who have important responsibilities for the future development of the country to keep abreast with the world.

According to the agenda, U Aye Win, the Secretary General, read the annual report and financial statement.

After that, U Win Bala Min, the Senior Associate of Win Thin & Associates External Audit Firm, read and submitted the Audit Report. Then, the annual report and financial statement were approved by the attendees.

Dr. Maung Maung Thein, the Chairman of the Election Supervision Commission, announced the resignation of Executive Committee members for the 2019-2022 term and the name list of newly elected President and Executive Committee members for the 2022-2025 term.

Then, U Aye Win, President of UMFCCI who was elected for the 2022-2025 term addressed the brief introduction. He believes that as the new Executive Committee representing the private sector, it can perform well for the interest of the private sector with the good practices of UMFCCI. The strength of affiliated associations has been improving and he will try to closely cooperate more and more than before. He finally explained the Road Map of UMFCCI.

For the financial year of 2022-2023, JF (Justice and Fair) Group Audit Firm has been assigned as the external audit firm of UMFCCI.

Afterwards, the 2022 ASEAN Business Award holders Daw Thin Thin Myat, President of Myawaddy Border Trade Association and Dr. Shwe Hein, CEO of Yangon Xpress Logistics Co., Ltd were presented the trophies to honor their achievements.

Union Ministers, Deputy Ministers, Yangon Region Government Ministers, Heads of Government Departments, Ambassadors and Diplomats from foreign embassies based in Myanmar, local and foreign business associations, business leaders, business partner organizations, UMFCCI's Patrons, Advisers, Chairman and members of UMFCCI Election Supervision Commission, responsible officials from affiliated associations, and members in total more than 700 participants attended, and the UMFCCI's 31st Annual General Meeting was successfully held.