It is necessary to make vigorous efforts for upgrading raw materials to value-added products with the use of techniques and machinery in order to improve the value chain and raise State GDP, said MSME Development Work Committee Chairman State Administration Council Vice-Chair Deputy Prime Minister Vice-Senior General Soe Win at the meeting 1/2022 of the MSME development work committee at the Ministry of Industry in Nay Pyi Taw yesterday afternoon.
In his address, the Vice-Senior General said that micro, small and medium-scale enterprises with lesser capital faced terrible impacts of the Covid-19 pandemic in addition to economic, social and health sectors in Myanmar. Hence, the government disbursed loans to MSMEs with an extension of loan terms. A total of 99 per cent of businesses across the nation are MSMEs which are the main driving force for the State economy.
The Industrial Supervision and Inspection Department under the Ministry of Industry has issued SME member cards to 40,929 industries and more than 45,000 industries have taken registration under the private industrial law. Moreover, 13 other ministries registered more than 253,000 industries, according to the statistics. Efforts must be made for manufacturing value-added safe products through modern techniques to be able to join the world value-added chain and international cooperation production networks as the whole world needs food products.
MSME industries are still difficult to thoroughly apply digital technology in manufacturing, market promotion and trade payment. The government is solving the problems of MSMEs.
The Vice-Senior General continued to say that it is necessary to form the MSME agency for allowing online registration of MSMEs at a time when all procedures have been set. They will have the chance to enjoy capital to be provided by the State, tax exemption and other assistance when they have registered.
As MSME businesspersons submitted 95 points of reports to the Prime Minister on his tours, these points must be implemented one after another.
The working committee must conduct the implementation of the policy, practical requirements, difficulties, consultation and fulfilment in time. As such, the working committee was compactly formed with ministries and professional associations to strive for the rapid economic development of the State.
Relevant regional agencies need to submit the monthly activities to the working committee and then to the central committee. It is necessary to make vigorous efforts for upgrading raw materials to value-added products with the use of techniques and machinery in order to improve the value chain and raise the State GDP.
Secretary of the working committee Deputy Minister U Yin Maung Nyunt reported on relevant letters of order. The meeting participants discussed the development of MSME industries in their respective sectors.
The Vice-Senior General coordinated the discussions and gave a concluding remark. He then viewed round the booths of the policy and foreign affairs unit, the technological and market promotion unit and the Department of Industrial Supervision and Inspection under the Ministry of Industry. — MNA