Plans for MSME development: PM meets MSME entrepreneurs in Pyay District

Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing held meeting with the micro, small and medium enterprise (MSME) entrepreneurs in Pyay District of Bago Region on Tuesday to discuss economic development.

In regards with the needs for economic development, Bago Region Chief Minister U Myo Swe Win reported on implementation of MSMEs, productivity and services, disbursing loans to MSMEs, conducting trainings, arrangement for using advanced machines and equipment for producing value-added products and holding expos and trade fairs for seeking markets.

Officials and MSME entrepreneurs reported on  selling and distributing agricultural inputs to farmers, selling rice at a fair price, the need for disbursing loans for paddy cultivation by the state at a low interest rate, difficulty in tourism industry during COVID-19, tourism recovery due to declining infection rate, providing assistance for the development of the hotel and tourism sector,extension of COVID-19 repayment loan period for MSME entrepreneurs, oil production and livestock breeding by using waste products produced from oil crops, modern equipment and technology to produce high-quality oil,getting fuel at reasonable price as well as metal raw materials and other related materials for iron production, technical assistance and raw materials for sculpturing works.

In response to the reports, the Prime Minister said that upgrading of railways is being carried out in order to commute conveniently by train. It has planned to run electric trains in the future to support tourism industry.It needs to create a good environment and accommodation and to build temporary rest places for tourists.

The locals need to make efforts to attract more foreign visitors and the food will also be made hygiene and better than now. The Russia-Myanmar Friendship Associations will be formed in the regions for visiting Russian tourists to Myanmar.

The period for repayment of Covid investment loans will be extended, and the loans will be disbursed again.The Prime Minister also stressed the needs on high quality strains for crop cultivation, the sufficiency of natural and organic fertilizers, irrigated water and correct agricultural methods, producing high quality edible oil, assistance for edible oil production, efforts for electricity demand, plans for implementation of electric public transportation, technical assistance for iron manufacturing.

Union Ministers U Win Shein, Dr.Kan Zaw. U Tin Htut Oo, U Hla Moe, Dr Charlie Than and U Aung Naing Oo discussed that regarding Covid-19 loans, the state will provide appropriate relaxation and arrangements are being made to disburse investment capitals.

They also discussed on arrangements for expanding and opening offices according to relevant areas to carry out foreign investment smoothly, quality inputs for farmers, implementation of contract farming system, production of bio fertilizers in local, distribution of quality strains to private business owners, providing assistance by forming cooperative syndicates for rural development, fulfilling the needs for agriculture and industrial tasks, rice sector development and edible oil production.

Later, the Prime Minister discussed that the politics and economy are interrelated, and if the economy does not progress, there will be political instability. The economic downturn may cause political problems, and so, efforts are being made to improve the economy.

Since the market economic system is being implemented, entrepreneurs must rely only on themselves and the state will only maintain the policy.In order to improve business industries, MSME businesses must be encouraged and must be developed in the district.

The country has sufficient rice, paddy and crops and based on these industries, measures will be undertaken for the country's economic development.He also stressed on agriculture and livestock based production and the needs on high qualified human resources, production of animal feedstuff by using waste products, getting more income by cultivating mixed crops.

He also called for achieving production by using raw materials from agriculture and livestock industries and striving for development of the state’s economy through regional economic development. Then, the Prime Minister cordially greeted MSME entrepreneurs in Pyay District. He later observed the display of foodstuff, personal goods, industrial products, traditional products, textiles and traditional medicines and asked about seeking market.