MSME Development: PM met with MSME businessmen from Nay Pyi Taw

Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing met with the businessmen of Micro, Small and Medium Enterprises in Nay Pyi Taw Council Area on Saturday.

Nay Pyi Taw Council Chairman U Tin Oo Lwin reported on the agriculture and livestock breeding works, implementation of MSMEs, production of value-added products, providing loan and technology for MSME development and future plans.

The Chairman of Nay Pyi Taw MSME Association and businessmen later reported on acquiring of technical know-how, legal protection, the needs of investments, land plots and infrastructures, export condition of value-added products, challenges faced in distribution to the market, high price of raw materials and transportation, purchase of machinery parts through installment payment, and permission to from Nay Pyi Taw Federation of Chamber of Commerce and Industries.

The Prime Minister discussed that plans are underway to disburse capital loan for MSME businesses with low interest rate.

He pledged to grant the land plot for infrastructure building for Nay Pyi Taw MSME Association and Nay Pyi Taw Federation of Chamber of Commerce and Industries.

He continued that Pyimana area has abundant of bamboo but due to the over extraction, there has seen extinction of bamboo forests. He stressed the need to grow bamboo forests for long term sustainability, and to produce value-added products using bamboo for generating more benefits. The Prime Minister also urged to pay their taxation dutifully.

The Union Ministers later made explanations on work undertakings by the respective ministries, implementation of industrial zone in Nay Pyi Taw Council area, arrangements for better transportation and smooth flow of commodity, disbursement of low interest loan for agriculture and livestock breeding works and MSMEs, providing technology and other assistance, formation of cooperatives associations for income generation and development of rural areas and display of Myanmar products at local and international expos.

The Deputy Governor of the Central Bank of Myanmar also discussed on the plans for extension of payback period for loan disbursement. The Prime Minister said Nay Pyi Taw is the capital of the State, and it has been opened for about 16 years. Since its establishment, the agriculture, livestock breeding and industrial zones have been designated.

He stressed to implement economic development based on agriculture and livestock sector. Moreover, the payback period for COVID-19 loan will be extended to a certain period, and loan investments will be disbursed for MSME development in line with the regulations. The Prime Minister later viewed the displays of value-added products, manufactured by the MSMEs in Nay Pyi Taw Council area.