Business Plan Contest 2020 to be held in July: DICA reports

LOCAL NEWS

By Nyein Nyein

Business Plan Contest 2020 for a post-coronavirus economic recovery will be held starting from July, according to the Directorate of Investment and Company Administration (DICA). Due to the negative impact of the pandemic, the world countries are experiencing economic challenges and hardships. In response to possible challenges and obstacles in the post- coronavirus, Green Hills Development Ltd organizes Business Plan Contest 2020, supported by domestic businesses and business associations in Myanmar.
The objectives behind the contest are to contribute towards a post-coronavirus economic recovery, increase job opportunities, promote investments in Myanmar and boost trade with foreign partners. Those who like to participate in the contest or who like to contribute in-kind or financial support can send enquiry to [email protected] and [email protected] Those who will support the contest can send a company or organizational logo.
At present, CMP garment business, hotel and tourism service and small and medium enterprises (SMEs) are hit hard by the negative impacts of viral disease.
The committee to remedy the economic impacts caused by the coronavirus, led by Union Minister U Thaung Tun for Investment and Foreign Economic Relations, was formed on 13 March 2020. The committee has been granting the loan to the business stricken by the pandemic from the Coronavirus Fund, with K50 billion allocated from the country’s revolving fund and another K50 billion from the social welfare fund.
Regarding the Fund, 85 businesspersons were granted K5.696 billion in the first batch, while 113 enterprises were selected for K4.495 billion in the second batch, 111 enterprises in the third batch for K3.5466 billion, 417 in the fourth batch for K15.079 billion and 290 in the fifth batch for K8.7335 billion. (Translated by Ei Myat Mon)

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