Vice-Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win, who is in his capacity as the chairman of the Committee on Development of Micro, Small and Medium Enterprises (MSMEs), addressed the committee’s meeting 1/2024 at the Ministry of Industry in Nay Pyi Taw on 20 March.
- Encouragement of MSMEs is one of the many priority sectors for economic development.
- Encouragement of MSMEs will develop the national economy and generate job opportunities for citizens as they serve as the foundation and core of the task.
- An action plan for 107 kinds of products is under implementation to realize the One Region One Product project proposed by regions and states.
- Of them, 57 have been chosen as priority goods. In prioritizing 57 of them, connections will be made with the work plan on farming-based products.
- Efforts must be made to achieve economic progress by manufacturing many products for the people by MSMEs in respective areas.
- MSMEs are urged to manufacture products based on raw materials that are available in the country with emphasis on fulfilling the needs for security of food, water and basic needs and then value-added products for exports.
- The Prime Minister has held 23 meetings with MSMEs entrepreneurs in regions and states to promote them and Deputy Prime Minister have met them five times.
- During the meetings, it was found that the entrepreneurs reported on their needs in respective sectors. In the reports, two factors are land and capital investment.
- The government has set up funds for economic promotion of the country and development of MSMEs and measures are being taken to provide financial support for MSMEs.
- Measures must be adopted and taken for digital transformation of MSME entrepreneurs, linking them to international business networks and enhancement of digital capabilities.
- It is necessary to support the foundation MSMEs such as raw materials that can be guaranteed, required inputs, technologies, capital investment and human resources development in encouraging MSMEs.
- This industry can create high-quality jobs that lift people out of poverty and contribute to overall economic productivity growth.
- Given Myanmar's market economy, fostering a supportive environment for private businesses is essential to ensure they can meet the nation's production needs.
Present were Deputy Prime Minister Union Minister for Planning and Finance U Win Shein and union ministers Dr Kan Zaw, U Hla Moe, Dr Charlie Than, U Tun Ohn, and Dr Myo Thein Kyaw, the Nay Pyi Taw Council chair, deputy ministers, work committee members, and officials or associations. Region/state chief ministers attended the meeting through video conferencing and reported their sector wise discussion, it is reported.
Source: MWD (21-3-2024)
- Encouragement of MSMEs is one of the many priority sectors for economic development.
- An action plan for 107 kinds of products is under implementation to realize the One Region One Product project proposed by regions and states.
- Of them, 57 have been chosen as priority goods. In prioritizing 57 of them, connections will be made with the work plan on farming-based products.
- MSMEs are urged to manufacture products based on raw materials that are available in the country with emphasis on fulfilling the needs for security of food, water and basic needs and then value-added products for exports.
- It is necessary to support the foundation MSMEs such as raw materials that can be guaranteed, required inputs, technologies, capital investment and human resources development in encouraging MSMEs.