Lifting the socio-economic status of the people

Perspectives

Today, consumers have become much more discriminating about food quality and the safety of the food they eat.
For safety and sufficient nutrition in Myanmar, the Union Government is committed to promoting organic farming. Meanwhile, organic farming is considered being essential for the production of safe high-quality food products, which would in turn lead to increased imports; a notion discerned from a report read at the Pyidaungsu Hluttaw, concerning the state of the Union.
Not only is this notion important for elevating the social status of people and their socio-economic development, it is also a monumental support for the economic development of the nation. The current reality is that we are relying heavily on imports of food products and some of these imports have been found not to be safe for consumption. Additionally, these imports eventually become a major factor in the national budget deficit as well.
We can safely assume that the relatively high reliance on imports stems from the local production’s lack of certain essential components that would contribute to a strong agricultural export sector, namely genetically superior crops, machinery, rich top soil and fertilizers, systematic dispersal of pesticides, skilled labour, and technology in general. Even though these criteria are receiving support there are still other persistent issues such as a shortage of capital for agricultural and micro, small and medium-sized enterprises – (MSMEs), technology and assistance, and accessible export markets.
To ensure that MSME find an enabling environment to thrive, the Union Government is committed to providing greater financial support to the MSMEs with loans. Loans amounting to 60 billion kyats went to MSMEs in three years. Besides, the Union Government has planned to grant over 200 billion kyats to MSMEs this fiscal year. The Myanma Economic Bank has targeted to grant 250 billion kyats to MSMEs.
Meanwhile, the Ministry of Agriculture, Livestock and Irrigation has invited the people to receive skills for producing value-added food from palm, coconuts, mangoes, tomatoes, rice, peas and pulses at its free-of-charge training courses.
The Union Government’s commitment to entrepreneurship and innovation in Myanmar can significantly raise the living standards of the people, as is becoming evident in India.
MSMEs in Myanmar are transforming from traditional businesses to innovative MSMEs due to their innovation and they should try hard to become entrepreneurs.
The Union Government’s efforts will aid the entrepreneurial zeal at the grassroots level. For Myanmar, it is never too late to move in that direction.

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