MSMEs Businesses: Substitution of local raw materials to reduce costs

Myanmar has abundant natural resources and if the MSMEs businesses can be operated with the use of these resources and raw materials of local produced, many benefits will be achieved.

There are around 90% of MSMEs businesses driving the business sector of developing country and about 90% of private sector in Myanmar are MSMEs businesses. In order to exports MSMEs products to the foreign market, the government has been carrying out to reduce production costs, provide energy and infrastructure, substitute with local raw materials from domestic agricultural and livestock industries.

 Also the government has been formed central committee on development of MSMEs businesses and able to export high-quality product to the local and foreign markets.