MSME businesses must be encouraged with the guarantee for the long run to enhance the State economy: Vice-Senior General

MSME businesses in regions and states will be provided with monetary capital and technologies for operating their manufacturing through cooperative and private systems, said Vice-Chairman of the State Administration Council Deputy Prime Minister Vice-Senior General Soe Win at the meeting 1/2023 of the workcommittee at the Ministry of Industry in Nay Pyi Taw yesterday afternoon.
On the occasion, the Vice-Senior General, who is also Chairman of the MSME Development Work Committee, delivered an address, saying that the Senior General has given guidance on the implementation of MSME businesses with primary factors such as encouraging domestic products, the substitution of import goods and increase of export volume. Region and state agencies need to follow the aforesaid factors in supervising the MSME businesses.
In line with the guidance of the Senior General, efforts will be made for initiating the scheme on the one region-one product. MSME businesses have to set relevant items of products with the export purpose in addition to domestic products depending on the availability of domestic raw materials. Region and state authorities need to implement plans for the potential of products.
MSME businesses in regions and states will be provided with monetary capital and technologies for operating their manufacturing through cooperative and private systems. It is necessary to help smooth the circulation of money in the investment sector as the work process may face challenges.
The Vice-Senior General stressed the need to disseminate information to MSME businesspersons and the people in real-time and develop human resources for MSME business. MSME businesses must be encouraged with a guarantee for the long run to enhance the State economy, and these MSME businesses have to manufacture many products for economic development. As MSME businesses are still facing difficulties in manufacturing, market promotion, dissemination of information and transfer of money in trading through digital technology, it is necessary to seek the best ways and means for them.
Secretary of the work committee Deputy Minister U Yin Maung Nyunt reported on the accomplishment of the minutes of the meeting 1/2022 and the work progress of the work committee.
Deputy ministers, the Chairman of Nay Pyi Taw Council and the Chief Minister of Shan State reported on letters to be submitted to the MSME Development Work Committee.
Vice-Chairman of the work committee Union Minister for Planning and Finance U Win Shein discussed monetary affairs for the disbursement of loans to MSME businesses and loan rules and regulations.
The joint secretary of the work committee director-general of the Industrial Supervision and Inspection Department reported on approval for the letters.
Work Committee Vice-Chairman Union Minister for Industry Dr Charlie Than explained the amendment of the MSME development law, assignment for regions and states to prioritize the production of import-substitute goods and value-added products, trademark measures, expression of commodity facts and export information for MSME businesses into the State-owned media, the establishment of an information mechanism to disseminate MSME information and data on the report of ASEAN SME policy index.
Then, Union ministers and officials discussed functions for the development of MSME businesses.
The Vice-Senior General coordinated the discussions and gave a concluding remark. — MNA/TTA

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