MSMEs in Sagaing urged to grasp opportunities brought by MSMEs Products Exhibition

Vice President U Myint Swe (centre) and Sagaing Region Chief Minister Dr. Myint Naing inspect wooden table produced by a medium enterprise displayed at the MSMEs Products Exhibition in Monywa yesterday.  Photo: MNA
Vice President U Myint Swe (centre) and Sagaing Region Chief Minister Dr. Myint Naing inspect wooden table produced by a medium enterprise displayed at the MSMEs Products Exhibition in Monywa yesterday.  Photo: MNA

An exhibition of the products produced by local micro, small and medium enterprises-MSMEs in Sagaing Region began at the City Hall in Monywa, the capital city of Sagaing Region, yesterday, with an opening address by Vice President U Myint Swe.
The participation of private banks in the Sagaing exhibition, which is the fifth one after the same kind of exhibitions in Mandalay, Magway, Ayeyawady and Taunggyi, is the significance of this exhibition.
“As private banks are participating in this exhibition, MSMEs are urged to grasp opportunities brought about by the exhibition,” said Vice President U Myint Swe, in his capacity as the Chairman of the Small and Medium Enterprises Development Work Committee, in his opening address.
The committee has planned to hold the same kind of exhibition in Bago Region, Yangon Region, Mon State and Taninthayi Region and Nay Pyi Taw will host the national-level exhibition, while national-level award winners will be selected from the nationwide exhibitions.
In exhibitions, the businesses which have prospects for development were recorded and are invited to trade fairs, business matching and business plan competitions and are introduced with private banks to get loans.
SME development agency meetings are being held during the exhibition period, practical assistance and support for the development of SMEs in the region could be done through discussions and coordination between stakeholders and MSME businesses.
“MSMEs in Myanmar are transforming from traditional businesses to innovative MSMEs due to their innovation and they should try hard to become entrepreneurs,” said the Vice President.
He also urged the businesses in Sagaing Region to become envious of the innovations, efforts made and grasping opportunities made by other business enterprises of the previous exhibitions.
“Only with innovation, good production and services, can MSMEs in Myanmar compete with regional businesses and penetrate international markets,” said Vice President U Myint Swe.
Some 90 per cent of the country’s economy is tied into the private sector, and 99 per cent of the private sector is made up of small and medium enterprises (SMEs), according to statistics.
To assist the MSMEs throughout the country, three bodies to assess, develop and manage funds were formed in January, in accordance with the SME law.
The MSMEs exhibitions have brought opportunities to local businesses to advertise their products and to attract local and foreign visitors with natural resources, culture and customs in respective regions.
“Another opportunity is that the exhibitions can bring about supply chain among the business as MSMEs from other areas also participate in the exhibition,” said U Myint Swe.
The Vice President also urged local MSMEs to improve marketable products in order to find international markets saying that those enterprises which do not have markets cannot be sustainable.
He also called on the regional MSMEs to strive for establishing a regional MSME community which can be relied upon for local products and services and for the country’s socio-economic development and environmental protection.
Also present at the opening ceremony were Vice Chairman of the MSMEs development committee Union Minister for Industry U Khin Maung Cho and members of the work committee Sagaing Region Chief Minister Dr. Myint Naing, Magway Region Chief Minister Dr. Aung Moe Nyo, Sagaing Region Hluttaw Speaker U Than, Chief Justice of the High Court of the region U Win Myint, Deputy Ministers, cabinet members of the region and state governments, Sagaing Region Advocate General, Sagaing Region Auditor General, Chairman of the Naga Self-administered Zone and members and businessmen.
Following the ceremony, Vice President U Myint Swe attended the opening ceremony of the Small and Medium Industrial Development Bank (SMIDB) in Monywa along with Union Minister U Khin Maung Cho and Sagaing Region Chief Minister Dr. Myint Naing.
Afterwards, the Vice President visited the Bodhi Tahtaung Nursery and gave instructions on greening of the region, urging the officials concerned to conserve the forests and to carry out afforestation. — Myanmar News Agency

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