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Efforts For SMEs: “Growth In International Markets-A Tool Kit For SMEs”

4 October 2018

A workshop to strengthen Small and Medium Enterprises (SMEs) began on Thursday in Yangon. Concerned officials, US Ambassador, local and foreign experts and SMEs entrepreneurs joined the two day workshop “Growth in international markets-A tool kit for SMEs”.

US Ambassador, H.E. Scot Marciel said … “it's part of broader efforts by United States to support economic development and growth especially focuses on helping farmers, entrepreneurs, small and medium sizes businesses”. “This workshop is part of the series of programs that we are doing. The main idea is it gives them a chance to hear from other entrepreneurs, some from United states, some from the region and some from Myanmar who've been successful. And to learn from those entrepreneurs, some of the things that help them succeed."

Weakness in access to information, market and finance challenge the Small and Medium Enterprises to grow even in the local market, Myanmar Young Entrepreneurs Association said.

Secretary General, Myanmar Young Entrepreneurs Association, May Thant Sin said “Weakness in access to information about rules and regulations between Myanmar and US challenge the entrepreneurs to work closely. For SMEs, access to finance and market are the main challenges. This workshop is to ease such difficulties and pave the way for local SME entrepreneurs to discuss with foreign entrepreneurs for instance on how to expand made-in-Myanmar brand into the global market.”

Associate, US-ASEAN Business Council, INC, Hla Hpone Myint said "... Myanmar with its tremendous potential still hasn't reached its potential, full potential because of those political circumstances”. “And with the right push, with the right tool set if you will, that is needed to enrich and garner development in the SMEs, I think the potential is limitless.” … “With the right tweets both in terms of technology and on the public policy side too, combine together, I think could advance us to a more beyond."

Despite the challenges, experts believe this kind of workshop will bring effective outcome to ease the tension in the market.

Joint Secretary, Myanmar Young Entrepreneurs Association, MI May Aye Aye Thant said “Myanmar SMEs are now facing many difficulties and obstacles even in the local market. And some of the policies in the country still challenge us. We need to learn something valuable through this kind of workshop.”

The workshop will run until Friday with a discussion on ways to further integrate Myanmar’s economy regionally and globally.