MSME Development: Meeting with staff and MSME Development Agency

Union Minister for Industry, Dr. Charlie Than visited the No.2 Steel Mill (Pangpet) in Taunggyi of Shan State on Sunday.

The Union Minister met with the staff and heard reports on the current operation process, future plans, and requirements. The Union Minister instructed the need to be ready for the re-operation of the works and inspection of the machinery. He also stressed the importance of drafting project plans for respective tasks to be completed within the 2023-2024 fiscal year, following the proper procedures.

The Union Minister emphasized the need for human resource development and promoting the competency skills of the staff. He urged everyone to make strenuous efforts for the timely completion of the projects. In the afternoon, the Union Minister met with members of the Shan State MSME Development Agency at the State Government Office.

In his capacity as the Vice Chairman of the SME Development Work Committee, the Union Minister delivered a speech, stating that the Ministry is conducting knowledge-sharing activities for loan disbursement to MSME businesses in cooperation with the concerned banking institutions.

The Ministry is also providing assistance to registered businesses for manufacturing quality products, along with human resource development. He mentioned that the government has already provided 170 billion kyats assistance for establishing the MSME Fund.

Out of this amount, 20 billion kyats will be used for MSME development plans, while 150 billion kyats will be allocated for loan disbursement in accordance with financial regulations. The Ministry announced that MSME businesses can now apply for membership through the MSME Web Portal, and e-Payment is available online.

Once the law is amended, registration certificates will be issued for micro businesses along with the member card. He urged everyone to cooperate and coordinate for the development of MSME businesses in Shan State. Officials later reported on the efforts made for the development of MSMEs in Shan State, the work undertakings of the MSME Development Committee, the MSME Web Portal, and loan disbursement. The meeting concluded with closing remarks by the Union Minister.