The government and the private sector need to work together to overcome challenges in operating MSME businesses, said President of the Republic of the Union of Myanmar U Min Aung Hlaing at the ceremony to mark the World MSME Day at the Myanmar International Convention Centre I (MICC I) in Nay Pyi Taw yesterday.
The President inaugurated the ceremony to mark the World MSME Day by applying digital technology.
Speaking on the occasion, the President highlighted that the private sector can overcome difficulties and can achieve success by working collectively through systems such as group efforts and cooperative models.
Regarding raw materials, the President noted that as the country is agriculture-based, it is necessary to locally utilize available agricultural and livestock products. Instead of relying on imported raw materials, MSMEs have to use locally produced crops, forest products, and livestock products to be developed into value-added products.
He stressed that inputs such as fuel, electricity, fertilizers, and machinery parts for production should also be developed and managed through appropriate and innovative approaches.
He urged relevant ministries to place special emphasis on ensuring the supply of electricity and energy in order to reduce production costs as much as possible and further improve productivity.
With regard to monetary capital for MSME businesses, the President instructed officials to provide loans to genuine business people as soon as possible because the government has set up the MSME development fund.
He emphasized that no matter how complete and well-developed the infrastructure, inputs, and financial resources may be, success will remain out of reach without skilled workers who know how to operate systematically. Therefore, capacity-building training programmes must be continuously provided to improve management skills and technical expertise.
The President underlined that regional and state governments and local agencies have to provide special attention, support, and encouragement to ensure the sustainable development of MSME businesses based on the main agricultural and livestock raw materials produced in their respective areas, to enable the continuous and integrated supply chains of raw materials, and to ensure that quality and standards are met.
He outlined that everyone wishing to see the development of MSME businesses in the country needs to strive for the implementation of the One Region-One Product scheme.
The President urged MSME entrepreneurs to widely adopt digital payment systems in order to ensure fast and smooth financial flows in the production and service sectors. They should also continue to utilize e-commerce platforms in practice to access markets, so that their products can penetrate not only local markets but also the global market. He pointed out that MSME businesses and heavy industries have to create a link to a robust production supply chain network.
The President presented honorary medals of outstanding grade-1 MSMEs to Healthy & Happy foodstuff (micro) industry from Mandalay Region, Thallawady Co Ltd foodstuff (medium) industry from Yangon Region and Khaing Myitta Hospital healthcare service (medium) from Shan State.
Vice-Presidents U Nyo Saw and Nan Ni Ni Aye, Pyithu Hluttaw Speaker U Khin Yi, Amyotha Hluttaw Speaker U Aung Lin Dwe and Commander-in-Chief of Defence Services General Ye Win Oo presented honorary medals to relevant MSME businesses.
After the ceremony, they all watched a documentary video clip on development undertakings for MSMEs.
The President and party visited the exhibitions of MSME businesses where they viewed various items of foodstuffs, textiles, personal goods, fertilizers, agricultural machinery and others.
Data from the World Bank and the United Nations stated that approximately 90 per cent of businesses worldwide are MSMEs, accounting for 60 to 70 per cent of employment creation and about 50 per cent of global GDP. In Myanmar, around 90 per cent of businesses are MSMEs, contributing to about 70 per cent of employment generation.
MNA/TTA
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