What Jason says, but for really accurate concentricity you should drill, then bore undersize (0.2mm to 0.1mm on diameter, but other people will have different ideas), then finish by reaming. A drilled hole can wander off centre, and if it is off, the reamer will follow the hole. Boring will bring the drilled hole true.
To make something with a long hole that needs to be concentric, a spindle, for example, then the bore is best finished first, and then the job mounted between centres on a true-running mandrel for finishing the outside diameter.