Regional Development: PM meets MSME entrepreneurs in Magway Region

Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing held meeting with micro, small and medium enterprises (MSME) entrepreneurs in Magway Region at the Magway city hall on Monday and discussed economic development.

At the meeting, Magway Region Chief Minister U Tint Lwin reported on implementation of MSMEs, small scale industries, repaying of COVID-19 loans, providing for MSME development and opening of worksite trainings. Entrepreneurs in Magway region and attendees reported on efforts for reducing edible oil import by boosting oil crop cultivation in Magway Region, providing inputs and technical assistance from the state for weaving industry development, fulfilling electricity demands that are necessary for industries, providing capitals for rice mill and livestock and breeding, technical assistance for manufacturing motorcycles in local and the needs for regional economic development.

In the reports of individual entrepreneurs, Union Ministers U Win Shein, Dr Kan Zaw, U Hla Moe and Dr Charlie Than discussed sector-wise implementation of the ministries, economic decline globally including Myanmar due to COVID-19, promoting the state’s economy despite the political crisis including COVID-19, disbursing COVID-19 loans, supporting for MSME development, rural development and socio-economic life of rural people, the needs of equipment and capitals, forming cooperative syndicates and providing assistance of relevant ministries for MSME development.

The Region Chief Minister also discussed assistance for MSMEs development in the region. Regarding the regional development, the Prime Minister said agriculture and livestock breeding play a key role for manufacturing products. Encouraging these activities is promoting the basic rural economy.

If the rural economy improves, demand will increase and socio-economic life will improve. Therefore, it needs to carry out systematically farming activities. In response to the local productivity, the Prime Minister added that only when the domestic manufacturing activities are encouraged, the country's economy will improve.

Since taking the state responsibilities, they have encouraged local manufacturing activities. Due to the outbreak of COVID-19 and political changes, it does not progress as much as possible. In addition, due to the world's political situation, the price of fuel oil has increased.

Various difficulties have been overcome with the participation of the people and due to the instigation of people who want to take advantage of politics, riots and violence also occurred and they had to maintain. Despite such difficulties, it was found that Magway Region has achieved economic development.

For MSME enterprises, the raw materials, input, capitals and human resources are needed. He also stressed on manufacturing local products, creating job employments for regional development, promoting socio-economic life of rural people, reducing the use of foreign currency, manufacturing of bamboo pulps and finished wood products, efforts for local edible sufficiency, regional economic development and tourism industry, disbursing loans for MSMEs development, efforts for fulfilling electricity demand and education sector development.

Later, the Prime Minister cordially greeted MSME entrepreneurs in the region. The Prime Minister then observed the displays of foodstuff, household goods, industrial products, handicrafts, clothes and traditional medicines and asked about getting market.