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SME Development: Myanmar Japan SME Seminar And Business Exchange Held

20 March 2018

Insufficient Electricity supply, weakness of transportation as well as the illegal trade is the main challenges for the development of SME sector in Myanmar, the industry leader said at the Myanmar Japan SME Seminar and Business Exchange, held at UMFCCI in Yangon on Monday.

The Myanmar Japan SME Seminar and Business Exchange was jointly organized by the Ministry of Industry, Department of SMEs development, UMFCCI and Japan Myanmar Economy and Investment Center, aiming to promote the SME business development in Myanmar and also to promote SME business relationship between Myanmar and Japan.

Director General, Directorate of Industrial Supervision & Inspection, Aye Aye Win said "We started the collaboration with Japan since 2012, for the development of Myanmar SME policy and finance so we received the technical and financial assistance for the development of SME sector. We are also trying for the policies development and get the loans from JICA. JICA will also provide 150 billion kyats for the SME sector development and we are reviewing to provide the loans for all SME businesses."

For the development of SME policy and Finance in the country, the chairman of Japan Myanmar Economy and Investment Center (JMECI) pointed out that such kind of seminar and business matching will bring more opportunities and benefits through more contacts between Japanese and Myanmar companies.

President, Japan Myanmar Economy & Investment Center, Noriyuki Yonemura said “SME is very weak, small no power, no access each other so we are arranging business matching like this...most important thing is to disclosure the information what is your company..Management, employment, product, and quality you have to show the exact figures otherwise no body believe. I hope Myanmar SME sector development ….a lot of policies included in the document. Myanmar side needs to do development step by step.”

One of the industry leaders also highlighted the needs for the development of SME policy and finance at the event.

Executive Committee Member, UMFCCI, Ye Myint Maung said "For the development of SME industry, we need the organizations which can provide the financial assistance for all the SMEs. Then, we definitely need the infrastructure development and needs to protect the illegal trade. So, the financial support is the main requirements for all industry development in the country."

A total of 21 Japanese SME companies and 90 Myanmar SME companies joined the business matching.