Business-friendly environment urged to grow MSMEs

 

Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry’s President U Aye Win has called for the creation of a businessfriendly environment to support the longterm growth of domestic MSMEs, during the event titled “Mainstreaming Modern Market for Myanmar MSMEs” held on 1 October at the UMFCCI Mingala Hall in Yangon.

The event was coorganized by the UMFCCI and the Myanmar Retailers Association (MMRA) with a view to bridging business links between domestic MSMEs and producers.

Yangon Region Chief Minister U Aung Naing Thu gave a remark that Yangon Region is the economic hub that drives the country’s commercial activity, with most local goods flowing to the public through the region’s trade networks. The main challenge for MSMEs is penetrating modern trade networks. Therefore, the regional government has been supporting efforts to upgrade packaging standards, branding, and shelflife requirements, create B2B matching opportunities, and organize trade fairs. He urged continued efforts to help MSME products reach not only domestic supermarkets but also international markets.

UMFCCI’s President U Aye Win said that MSMEs account for over 90 per cent of businesses in Myanmar and 70 to 80 per cent of job creation, yet contribute only 35 per cent to GDP, which is lower than in comparable countries. He emphasized the need to create a businessfriendly environment to enhance MSME capacity and foster mutual support among related businesses. Citing the proverb “If you want to go fast, go alone. If you want to go far, go together,” he called for collaboration among MSMEs, retailers, financial institutions, and associations to build a resilient economy. He said the event was organized by UMFCCI and MMRA to help Myanmar MSME products enter modern retail networks in response to changing market demands.

The event featured direct market linkages with leading domestic modern retail chains, including City Mart Holding, City Express, Orange, Sein Gay Har, ABC Convenience Store, Ocean Supermarket, Pro 1 Global, Super 1 One Stop, SSN, and Yangon Bazaar, in addition to panel discussions. Competitiveness is the key to MSME survival and growth. UMFCCI is working with all stakeholders to improve MSME capacity, provide technical assistance, and facilitate financial linkages in line with government economic policies.

Representatives from AYA Bank presented financial and banking services available to MSMEs.

Next, a panel discussion on “Mainstreaming Modern Market for Myanmar MSMEs” was moderated by UMFCCI General Secretary Daw Khine Khine Nwe, with panellists: Daw Win Win Tint, Founder & Group CEO of City Holdings Ltd; Daw Mu Mu Aye, Deputy Director of the Yangon Region Directorate of Industrial Supervision and Inspection; and Daw May Hnin Wai, Co-Founder & CEO of Health & Happy Myanmar Co Ltd. The event also facilitated direct B2B discussions and advisory sessions between modern retailers and MSME operators, according to UMFCCI.

NN/KK

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