Working committee meeting: SAC Vice Chairman addressed the meeting

The Chairman of MSME Development Working Committee Vice Chairman of State Administration Council Deputy Prime Minister Vice Senior General Soe Win addressed the committee meeting (1/2022) held at the meeting hall of the Ministry of Industry, Nay Pyi Taw in the afternoon on November 15.

First, the Chairman of MSME Development Working Committee Vice Chairman of State Administration Council Deputy Prime Minister Vice Senior General Soe Win delivered a remark. In his remark, the Vice-Senior General said that micro, small and medium-scale enterprises with lesser capital faced terrible impacts of the Covid-19 pandemic in addition to economic, social and health sectors in Myanmar.

Hence, the government disbursed loans to MSMEs with an extension of loan terms. A total of 99 per cent of businesses across the nation are MSMEs which are the main driving force for the State economy. It is necessary to form the MSME agency for allowing online registration of MSMEs at a time when all procedures have been set.

They will have the chance to enjoy capital to be provided by the State, tax exemption and other assistance when they have registered. As MSME businesspersons submitted 95 points of reports to the Prime Minister on his tours, these points must be implemented one after another.

The working committee must conduct the implementation of the policy, practical requirements, difficulties, consultation and fulfilment in time. As such, the working committee was compactly formed with ministries and professional associations to strive for the rapid economic development of the State.

Relevant regional agencies need to submit the monthly activities to the working committee and then to the central committee. It is necessary to make vigorous efforts for upgrading raw materials to value-added products with the use of techniques and machinery in order to improve the value chain and raise the State GDP.

Next, the working committee members Union Ministers, Chairman of Nay Pyi Taw Council, Regions and States Chief Ministers, deputy ministers, director generals and the responsible persons from the organizations clarified related sectors regarding MSME developments.

Later, the Joint Secretary of the Work Committee Director General of the Department of Industrial Supervision and Inspection reported on getting approval for meeting’s decisions. Afterward, the Vice Senior Gneral coordinated essentials on the reports and gave a concluding remark.

The Vice Senior General and party then looked into the booths of the Policy and External Affairs Department, the Technology and Market Promotion Department and the Iindustrial Supervision and Inspection Department of the Ministry of Industry.