Vice-Senior General: Foster economic growth through MSME development

Vice-Senior General Soe Win, Vice-Chairman of the State Administration Council Deputy Prime Minister who also serves as the chairman of the Committee on Development of Micro, Small and Medium Enterprises (MSMEs), delivered a speech at the committee’s meeting 1/2024 at the Ministry of Industry in Nay Pyi Taw yesterday.
Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein, along with relevant Union Ministers and officials, were also in attendance.
The committee chairman noted that this is the fourth working committee meeting and highlighted that the relevant ministries and government bodies are implementing decisions made during the third meeting.
He stressed the committee’s commitment to executing directives from the SAC chairman. That includes initiatives such as producing value-added agricultural and livestock products, expanding crops for edible oils and industrial purposes, increasing dairy product output, and developing human resources.
He welcomed ideas and contributions from those present, underscoring the government’s focus on economic growth, with a particular emphasis on promoting MSMEs. As MSMEs cover the entire supply chain from production to packaging, they have the potential to significantly impact the country’s economy and create numerous growth opportunities.
The SAC is working towards implementing nine objectives and a five-point roadmap, including national prosperity and food security.
Regarding the production of value-added products using locally sourced materials, ministries and local agencies have collectively identified 612 products across four sectors.
There is a plan to manufacture local products following a one-region-one-product strategy to reduce dependence on imports. The committee has devised an action plan focusing on 107 products proposed by state and regional governments, with 57 prioritized for immediate attention.
Following discussions with MSME owners in 23 state and regional meetings, as well as five focused gatherings, the committee chairman highlighted that the two primary challenges identified are access to land and capital. The government has provided loans through MSME development funds.
In efforts to enhance human resources, various ministries have trained 91,807 individuals across 350 courses since January 2022. Currently, 3,862 trainees are undergoing training programmes.
In conclusion, the production sector is the backbone of Myanmar’s economic development. A well-functioning production system can create many opportunities and reduce poverty. The committee chairman invited attendees to share insights based on past experiences.
Subsequently, the committee chairman listened to presentations from different Union Ministers, chief ministers, and high-ranking officials and offered his support accordingly.
After the meeting, the committee chairman and officials observed the Ministry of Industry’s products and accomplishments. — MNA/NT

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