The national Micro, Small and Medium Enterprises Products Trade Fair and Contest was held in Nay Pyi Taw yesterday attracting MSME winners in nine regional and state level competitions.
At the contest, national level awards will be given to the winners.
In his opening address, Vice President U Myint Swe, Chairman of the MSMEs Development Working Committee, pledged to grant the MSME logo of the working committee to the winners of regional and state competitions.
He urged the winning MSMEs to produce and supply the best products and services after accepting the suggestions of the customers.
He called for cooperation among the Union Government, the Nay Pyi Taw Council, regional and state governments and the private sector to provide technology support to MSMEs across the country, to attract investment, to produce skilled labourers and to find new markets for the MSMEs.
“MSMEs make up 99 percent of Myanmar’s businesses. Therefore, only when MSMEs are developed, can the country’s economy be developed,” said Vice President U Myint Swe.
Since February 2018, National MSMEs Products Trade Fair & Contest were held in different states and regions. The first one in Mandalay, the second in Magway, the third in Pathein, the fourth in Taunggyi, the fifth in Monywa, the sixth in Bago, the seventh in Yangon, the eighth in Mawlamyine and the ninth in Myeik totaling nine.
In the regional and state MSMEs competitions, a total of 39 prizes including nine first prizes, 11 second prizes, and 19 third prizes were awarded to micro business, and a total of 43 prizes including nine first prizes, 14 second prizes and 20 third prizes were awarded to small business.
A total of 40 prizes including nine first prizes, 13 second prize and 18 third prizes are awarded by the committee to the medium-sized business.
MSME exhibitions and contests were held in regions and states in accordance with the second point of the National Economic Policy which says “To support Micro, Small and Medium-sized enterprises for job creation and economic growth”.
In accordance with this policy, the exhibitions and contests were held in to supporting market expansion for MSMEs, promoting import substitution various sectors and promoting linkages between manufacturing sectors and trade sectors, improving MSMEs competitiveness, technology and knowledge of economics, in cooperation with local business and international business, increasing import substitution products and promoting innovative products, and to promote MSMEs.
The Vice President said the Union Government had beenproviding loans to MSMEs in need of capital by collaborating with domestic private banks. The loans include K30 billion from the National SME loan programme, K7.393 billion from the Credit Guarantee Insurance (CGI) system, JP¥ 20 billion from the JICA Two Step Loan under the Japan Official Development Assistance, K250 billion from Myanmar Economic Bank loan, K200 billion from Myanmar Agricultural Development Bank, and Euro 15.30 million from the KfW, the German state-owned development bank.
The Vice President extended his gratitude to the organizations who have contributed to the development of Myanmar’s MSME sector and other socio-economic projects. Friedrich Naumann Foundation, GIZ, PUM, RBF, JICA, JMA, KBank, Entrepreneurship Development Network Asia (Myanmar) Co. Ltd, JROOT, JIAT, KIAT, IBK, ILO, CESO, and UNIDO would all receive honorary certificates at the ceremony.
He also thanked the Union Ministers, Nay Pyi Taw Council, the main sponsor of the event – Industrial Bank of Korea (IBK), donors, NGOs, domestic and foreign organizations and associations, departments, MSMEs, and everyone in attendance.
Next, Union Minister U Khin Maung Cho accepted the monetary donations from IBK and Good Brothers Co. Ltd and handed over honorary certificates in return. Union Ministers Dr. Pe Myint, U Thein Swe and Dr. Myo Thein Gyi also presented honorary certificates to the organizations who have contributed to the development of Myanmar’s MSMEs. The Vice President then observed the exhibitions and booths at the event.
The National Level MSME Products Trade Fair and Contest will continue till 24 March. The event has opened 271 booths displaying household and artisanal products, food products, industrial production products, cotton fibre and textile products, service products, and booths from the Ministry of Industry. There was also a panel discussion under the title ‘Myanmar’s products towards the world’, and an introduction programme to MSMEs, knowledge sharing, and business matching with City Mart, Gandamar Whole Sale, and other organizations will be held in the later days. —MNA (Translated by Zaw Htet Oo)