Site icon Global New Light Of Myanmar

Enhance manufacturing value-added products at home

The high capacity of the economic driving force of the State is based on the productivity of manufacturing domestic products. Emphasizing the manufacturing of value-added products with the use of raw materials produced at home can reduce the import volume and increase the export of products so as to strengthen an economic driving force to power.
Most of the industrialized countries and economically powerful countries encourage manufacturing measures at home as part of a basic step for the economic development of the nations. Despite the lack of natural resources including basic needs for agriculture and livestock farms, some countries utilize human resources in order to operate finished goods for ensuring economic growth.
In Myanmar, domestic manufacturing activities did not have the encouragement of the authorities. As such, businesses and industries missed the chance to recruit qualified and experienced human resources. In consequence, their productivity declines. As the country imports basic foodstuffs and personal goods, the trade deficit comes out. As such, local employees lose their job opportunities. That is why valuable workable forces move to other countries for seeking and working jobs. At the same time, the country loses valuable human resources to the State.
Currently, the government is encouraging domestic manufacturing businesses to have improvement. Myanmar is capable of extending the production of an abundance of industrial raw crops such as rubber, cotton, maize, pulses and beans in addition to products of agriculture and livestock farms. In order to manufacture value-added products and quality finished goods, strenuous efforts are being made to operate micro, small and medium-scale enterprises across the nation.
In fact, MSME industries are being operated with competitiveness not only in industrialized countries but in other different countries. As such, it is necessary to manage the development of MSMEs at home to be able to increase the domestic products and finished goods and manufacture value-added basic foodstuffs in competitiveness so as to create employment opportunities for the local people. Consequently, as efforts are being made to have import-substitute products, the country will have a trade surplus.
Actually, the development of the State economy is concerned with the government as well as the people from all walks of life. Not only the government but local businesspersons and people need to encourage the operation of MSME industries in order to enhance domestic production in all aspects with the aim of strengthening the economic power of the State. If so, jobs can be created for the workable forces of the country without the need to seek employment abroad.

Exit mobile version