Work Committee Meeting: Work Committee for Dev. of MSME Meeting held

The 1/2025 Meeting of the Work Committee for the Development of Micro, Small, and Medium Enterprises (MSMEs) was held at the Ministry of Industry’s meeting hall in Nay Pyi Taw in the afternoon on July 25.

The meeting was chaired by the Chairman of the Work Committee, vice Chairman of the State Administration Council, Deputy Prime Minister, Vice Senior General Soe Win, who also delivered an opening speech.

In his opening speech, the Vice Senior General noted that this was the fifth MSME Development Committee meeting, during which important sector-wise decisions had been made and implemented through coordination among relevant ministries, organizations, Regions and States Governments, and agencies.

He stated that the current meeting aimed to discuss necessary measures to systematically and sustainably develop MSMEs, in line with the guidance of the Prime Minister. He emphasized that agriculture is the backbone of the national economy and encouraged efforts to produce value-added products for export markets. He called for systematic research efforts by relevant departments to meet national agricultural targets, and highlighted the need for research and oversight in animal feed, medication, treatment, and care to ensure that products such as meat, fish, eggs, milk, and dairy products meet set quality standards.

The Vice Senior General also addressed the impact of the recent Mandalay earthquake, which damaged MSMEs and factories in Nay Pyi Taw, Mandalay Region, Sagaing Region, and eastern Bago Region. A detailed inventory of the damages was compiled and submitted to the Head of State, who approved immediate loan disbursements to support recovery efforts. He explained that the funding will come in two parts such as 150 billion kyats as MSME loans. 500 billion kyats and 200 billion from the Central Bank, sourced from the National Economic Promotion Fund and the Natural Disaster Risk Management Fund forming a special Earthquake Recovery Fund, with a Standard Operating Procedure (SOP) currently under development.

He noted challenges faced by some earthquake-affected MSMEs regarding existing loan repayments with some partially repaid, others unable to repay, and many businesses entangled in multiple borrowing arrangements. Despite this, he encouraged businesses to communicate difficulties via relevant agencies to the MSME committee for possible support. He reiterated the Prime Minister’s directive that businesses should focus on value-added production based on local raw materials, with the aim of expanding high-quality exports through domestic consumption.

Following his remarks, Deputy Minister for Industry U Yin Maung Nyunt, who also serves as Secretary of the MSME Development Work Committee, presented progress updates on the implementation of decisions made in the 2/2024 committee meeting and current committee activities.

Then, Deputy Minister for Planning and Finance Daw Than Than Lin, Deputy Minister for Industry U Yin Maung Nyunt, Deputy Minister U Min Htut, and Deputy Minister for Labour U Win Shein delivered reports and proposals from their respective working groups on matters to be submitted to the MSME committee.

Afterward, committee vice Chairmen Union Minister U Win Shein and Dr. Charlie Than, along with Union Ministers who are committee members, Nay Pyi Taw Council Chairman, Chief Ministers from Regions and States, Deputy Ministers, and sectoral experts participated in detailed sector-wise discussions.

The Vice Senior General Soe Win coordinated requirements on the discussions, delivered the closing speech.

After the meeting, Vice Senior General Soe Win, together with attendees, toured an exhibition showcasing locally produced MSME products from Nay Pyi Taw and value-added MSME products currently being exported, offering encouragement and support.