The central committee has to assist in initiating the digital economy for MSME businesses in applying digital technology, said Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing at the meeting 2/2023 of the Central Committee on Development of MSME Businesses at the SAC Chairman Office in Nay Pyi Taw yesterday afternoon.
Speaking on the occasion, the Senior General, who is also Chairman of the Central Committee, said that requirement of foreign exchange depends on a large import volume. The products which can be manufactured at home should not be imported. Likewise, although there are many exportable products, the export volume should not be lesser due to weakness in manufacturing. Hence, MSME is encouraged with the purposes of enhancement of manufacturing as well as the local economy, substitution of import goods and increase of export goods. So, it is necessary to primarily encourage MSME businesses to use domestic materials. If so, these businesses will create employment opportunities which contribute to raising productivity and increasing the incomes of the State.
In the electricity sector, governments in successive eras have approved electric power projects but revoked and suspended some of them for various reasons. As such, the Senior General called for bravely implementing short-term, medium-term and long-term plans for electrification.
The Senior General underscored that it is necessary to emphasize collection between MSME businesses and heavy industries to invite foreign investment. If foreign investment can be invited to manufacturing, agriculture and livestock, textile and garment industries, it can generate jobs for local people to raise per-capita income.
The Senior General stressed that region and state chief ministers have to invite ethnic businesspersons to operate manufacturing industries in livestock breeding zones and industrial zones.
To improve MSME businesses, an economic environment must be created by reducing hindrances to initiating new businesses, smoothening the flow of capital, strengthening awareness and entrepreneurship and joining the international supply chain to speed up the information network and information distribution.
The Senior General pointed out that the central committee has to assist in initiating the digital economy for MSME businesses by applying digital technology.
Vice-Chairman of the Central Committee SAC Vice-Chairman Deputy Prime Minister Vice-Senior General Soe Win explained the formation of the central committee and work committees and undertaking for the development of MSME businesses.
Secretary Union Minister for Industry Dr Charlie Than reported on accomplishments for minutes of previous meetings and future plans.
Central Committee member Deputy Prime Minister Union Minister U Win Shein, Union ministers, chief ministers of regions and states, the chairman of Nay Pyi Taw Council, the governor of Central Bank of Myanmar and officials reported on undertakings of relevant ministries and organizations for booming MSME businesses and future plans.
After hearing the reports, the Senior General highlighted the encouragement to MSME businesses, firmness of land policies, formation of manufacturing cooperative societies, systematic management of natural resources, betterment of communication system, implementation of the public transport system, and concerted efforts of relevant ministries, region and state governments and partner organizations for encouraging domestic production.
In his speech, the Senior General said that region and state governments have to secure success in operating businesses suitable for their regions. Relevant governments need to decide the operation of manufacturing in regions and states with the use of domestic raw materials. Human resources must be combined with production technologies. Technologies and skills of human resources can contribute to booming the State economy. The Senior General stressed the need to control the correct ways and means for loans. The Senior General urged authorities of regions and states to generate electricity by using bio-gasifiers and solar systems on their own programmes while the government is implementing the electrification projects. — MNA/TTA
