Local MSMEs need to produce basic consumer goods to meet country’s needs rather than imports: VSG

Vice-Senior General Soe Win has urged the domestic MSME businesses to produce basic consumer goods to meet the domestic demands instead of importing them, and try to export them to foreign countries.
Vice-Chairman of State Administration Council Deputy Prime Minister Vice-Senior General Soe Win, who is also Chairman of the MSME Development Work Committee, gave such encouragement at the meeting 2/2023 of the work committee at the Ministry of Industry in Nay Pyi Taw yesterday.
He also said it should support the startups by establishing incubation centres and provide the requirements to the entrepreneurs to be more competitive and innovative in order to develop the MSME businesses.
Moreover, due to the cooperation of Thilawa Special Economic Zone Management Committee, the local MSMEs exported the locally produced products in accordance with the order lists of 28 companies from Free Zone and Promotion Zone of Thilawa Special Economic Zone, and a total of 36 MSME businesses received 33 types of orders of raw materials worth K6.562 billion and over US$ 28.4 million from January to August, 2023. Therefore, it is a first step for MSME businesses.
It is necessary to provide the MSMEs to grab more achievements and ensure their sustainability, and it can see the progress in the country’s GDP by producing more products for the people in respective regions.
He also made a commitment that the government will make financial assistance to MSMEs as much as they can to start a new business and expand their operations.
Then, Secretary of committee Deputy Minister for Industry U Yin Maung Nyunt presented the implementations based on the outcomes of 1/2023 work committee meeting and current work plans of the work committee.
Then, Deputy Minister for Industry U Yin Maung Nyunt, Deputy Minister for Planning and Finance Daw Than Than Lin, Chairman of Fund Management Deputy Minister for Planning and Finance U Maung Maung Win presented letters to be submitted to the MSME Development Work Committee.
Additionally, Vice-Chairs of the work committee Union Minister for Planning and Finance U Win Shein and Union Minister for Industry Dr Charlie Than explained the ongoing development activities for MSME businesses.
Then, work committee members Union Ministers Dr Kan Zaw, U Tun Ohn and Dr Myo Thein Kyaw, Nay Pyi Taw Council Chairman U Than Tun Oo, chief ministers of regions and states, deputy ministers and other attendees discussed the functions for the development of MSME businesses.
Chief ministers of regions and states joined the meeting via video conference, it is reported. — MNA/KTZH

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