MSME Development: Central Committee on Development of MSME held

The Central Committee on Development of Micro, Small and Medium Enterprises held its meeting in Nay Pyi Taw on Friday.

Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing in his capacity as the Chairman of the Central Committee attended the meeting and gave a speech. The Prime Minister said MSME enterprises are the major driving force for development of the nation’s economy.

MSME enterprises can response rapidly for the market demands more that the major businesses. He pointed out that about 70% of the country population resides in the rural areas and they mainly rely on agriculture and livestock breeding tasks. Likewise, the country has abundant natural resources, and if the MSME businesses can be operated with the use of these resources, many benefits will be achieved.

The Prime Minister stressed the needs to establish the industrial zone in all states and regions, and implement to manufacture the products that are suitable with the regions. In this way, there will create more job opportunities and reduce the numbers of workers who goes for other towns and oversea for employment.

He also highlighted to implement the hydropower and solarpower MSME projects while striving to manufacture the electronic equipment locally. He added that it is ready to disburse loans for MSME businesses that will be in operation practically in line with the rules and regulations. He also emphasized to nurture for human resource development in management field.

There are over 40,000 MSME businesses in the country, and it needs a good market for trading of these businesses. He urged all concerned persons to make cooperative efforts for international relations, smooth flow of commodity and providing trade data.

Secretary of the Central Committee Union Minister Dr Charlie Than reported on the industrial policy, resources for economic development, enactment of MSME Development Law, policy and by-law, plans for striving the MSME businesses and formation of the Central Committee, Work Committee and duties of the committee.

Members of the Central Committee later reported on the matter to support electronic manufacturing businesses, loan disbursement for MSME development, establishment of MSME Fund, local and foreign investments, infrastructures for transportation and communication, timely release of economic news via state media, implementation of micro businesses in rural areas, conducting of vocational training, organizing the exhibition, granting permits for timber, gems and mineral exploration, production of value-added products, adding the MSME subject in the university syllabus, standardization for MSME, FDA approval for MSME products and currency policy.

The Prime Minister stressed that it is needed to make efforts for promoting the production of respective regions and the UMFCCI and the affiliated associations are urged to make coordination in implementing the MSME businesses.

Vice Chairman of the State Administration Council Deputy Prime Minister Vice Senior General Soe Win later discussed the plans to make further implementation by the work committee.

The Prime Minister concluded that the government will provide necessary for narrowing down the development gaps among the regions and states. He stressed the cooperative efforts of the public and private sectors for human resource development and achievement investments. The Prime Minister called for collaborative efforts of all concerned ministries for successful implementation of the tasks.