Measures for Economic development: PM discusses with MSME entrepreneurs in Bago region

Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing met micro, small and medium enterprise entrepreneurs in Bago Region at the city hall in Bago on Monday to discuss regional development and economic development.

First, Bago Region Chief Minister U Myo Swe Win reported on development of MSMEs in the region, undertakings for investments from local and abroad and implementing tasks.

The MSMS entrepreneurs in the region, town elders and attendees discussed capital and technology assistance to be provided by the state for the development of rice mills, the needs for extension of palm oil industry, measures for carving in the region, assistance to be provided by the state for participating in the art and craft exhibitions in  local and abroad, the needs of capitals for development of coffee industry, profits from township level commodity depots for agriculture and livestock breeding, emergence of human resources and requirements for regional development.

After that, the Union Ministers discussed respective sectors on disbursing loans by the state, providing loans with low interest rates according to the business in order to be able to expand the economy, the need to carry out the business successfully and repay the loans within the specified period.

The equipment, vehicles, capital and technology requirements will be provided for agriculture and livestock breeding entrepreneurs by the relevant ministries to carry out the tasks smoothly and the locals are urged to emphasize on environmental conservation tasks, the needs for participating in MSME trade fairs to get markets and constant contact with MSME committee.

Later, the Region Chief Minister discussed measures being undertaken for MSMEs development and future work programs. In response to the reports, the Prime Minister said that Bago Region is one of the strongest economic regions after Mon State among all states and regions and the region is a reliable one for the State’s economy.

The country's economy has been declining since 2018. In 2020, due to COVID-19 disease, the economy had to decline more and in 2021, the economy was negative due to the outbreak of the COVID-19 and political conflicts.

In the past, manufacturing in local was less in encouragement and the country needs to produce enough products that can be sold. Agriculture and livestock industry is a manufacturing industry with a strong base that can be more successful. There are 15 million acres of monsoon paddy and more than 13 million acres of farmland in the nation.

The Prime Minister stressed to encourage productivities based on agriculture, to get quality paddy strains, sufficient irrigated water and correct agricultural methods for high per acre yield and feedstuff for breeding.

He also pointed out that if the agricultural and livestock activities can be improved more than now and the yields can be improved, the income of Bago Region will increase. Raw materials, electricity, inputs and human resources are also required for the success of MSME enterprises.

Fertilizers are also needed for agricultural tasks and measures are being undertaken to purchase from abroad. Similarly, to ensure the sufficient human resources for agricultural and livestock measures, the agriculture, livestock and industrial high schools have been opened.

He also called on efforts for achieving cow breeding in Bago region, producing value-added products, rubber planting in the region, measures for manufacturing of vehicle and motorcycle tyres, other personal goods based on rubber necessary for the region, edible oil planting to provide the needs of cooking oil in the region on the other hand. He also said that the state is creating jobs and providing opportunities to work.

The strength of the nation is only within in local. Therefore, it must perform the tasks with the strength of the nation in the difficult time of the state.

The Prime Minister said that they will work with anyone who can do the best for the benefits of the nation and they are working with the intention for the interest of the nation so they believe that they will achieve success.

After that, the Prime Minister cordially met MSME entrepreneurs and observed the displays of local products, food stuff, consumer goods, industrial products, traditional hand-made products and clothes. He also asked about the market situations and businessmen conducted him round there.