Vice Chairman of State Administration Council Deputy  Prime Minister Vice-Senior General Soe Win addresses Micro,  Small and Medium Enterprises Development Work  Committee meeting 1/2022

Vice Chairman of State Administration Council Deputy  Prime Minister Vice-Senior General Soe Win addresses Micro,  Small and Medium Enterprises Development Work  Committee meeting 1/2022

NAY PYI TAW November 15

Micro,  Small  and  Medium  Enterprises Development Work Committee held meeting 1/2022 at the Ministry of Industry here this afternoon, addressed by Chairman of the committee  Vice Chairman of State Administration Council Deputy Prime Minister Vice-Senior General Soe Win.

Present were Union ministers, the Nay Pyi Taw Council chairman,  deputy ministers, work committee members and  officials. Chief ministers of regions and states and officials of associations took  part in the  meeting through video conferencing.

The Vice-Senior General said  developed and developing countries faced direct economic and social consequences of COVID-19. The global economy hit the worst point, individual income dropped, and millions fell into extreme poverty. The worst hit areas were global trade, tourism, social goods trade and financial sector.  Many sectors came to a stop, and job opportunities were hit by restrictions in resuming the business. Myanmar also faced adverse effects in economic, social and health sectors like other countries, and especially MSMEs with less financial power were hit harder.  Loans were disbursed, and repayment dates have been extended for COVID-19-hit businesses.  MSMEs are the country’s main economic drive and they represent 99 per-cent of all economic businesses.

Industrial Supervision and Inspection Department of Ministry of Industry has issued 40,929 SME Member Cards, and over 45,000 registered  businesses are in the SME  category. Over 253,000 have registered at 13 departments of other ministries. Survival of re- gistered MSMEs is required for national economic resur-gence.  Good opportunities will appear if the national advantages can be used as the foun-dation. Concerted efforts must be made to produce safety and valued-added foodstuff which has a global demand and to join the global value-added chain  and international cooperation links.

MSMEs should study the  results of market research because of the changes in lifestyles and should apply digital technology without fail. But they are still facing difficulties in applying the technology in certain business areas till now. The government is creating opportunities for MSMEs and overcoming the challenges  together with them. The go vernment is trying to advance from e-ID to e-Government.

After the completion of the  project, market research, digi-talized functions, production, marketing, search and money transfer of MSMEs will auto-matically enter the current E-Government system.

The Vice-Senior General  stressed the need for the agencies to register MSME through digital system online when the MSME agency has been formed and  necessary  procedures completed.This meeting aims to formally set up the agencies and to adopt the decisions.Only when these industries are to be registered in digital technology, will they have all assistance including the monetary capital and tax exemption to be pro-vided by the State.

In accord with the guidance of the Chairman of the Central Committee Prime Minister at the central committee meeting, all relevant ministries need to cooperate with each other on primary needs of MSME on raw materials, inputs, skilled labour and capitals.

On the trips of the Prime Minister,  the MSME business persons reported on 95 points  of submissions in seven sectors. These  submissions must be implemented one after another.

The  work committee is a bridge to implement the policies adopted by the central committee and MSME business persons, providing necessary assistance, expertise and tech-niques to MSME, accepting reports and fulfilling their needs in time. As such, their work committee was compactly formed with officials of the ministries, UMFCCI, Myanmar  Computer Federation, Myanmar Banks Association,Myanmar Young Entrepreneurs  Association,  Myanmar Women Entrepreneurs’ Association.  All work committee  members  must strive for rapid development  of  the State economy amid  the assignments in need of MSME Central Committee and MSME businesspersons. As it is a committee for rapid economic growth of the State, its burden is heavy and all committee members must harmoniously participate in the implementation of the tasks.

Moreover, regional agencies need to submit the monthly reports on accomplishment to the work committee and then to the central committee. They have to make utmost efforts for manufacturing the valueadded products from the raw materials of  prospect raw, agri-cultural/livestock/fishery pro-ducts with the use of techniques and  modern  machinery  and increase the value chain with might and main so as to raise the State GDP.

The Secretary of the work committee  Deputy  Minister  U Yin Maung Nyunt reported on the letters of offer.

Work  committee  members  Union ministers, the chairman  of Nay Pyi Taw Council, region and state chief ministers, directors general and officials from organizations discussed deve-lopment of MSME industries  in their respective sectors.

The Joint Secretary the dire-ctor general of the Department of Industrial Supervision and Inspection sought the approval of the meeting minutes.

The  Vice-Senior  General coordinated the reports and gave a concluding remark.

Then, theVice-Senior General visited the booths of policy and foreign affairs unit,technology and market promotion unit and Department of Industrial Supervision  and Inspection  under the Ministry of Industry where the Union minister and officials conducted him round  the booths.