MSME Development: Meeting with MSME entrepreneurs in Nyaung Oo

On 3rd August, Union Minister for Industry Dr. Charlie Than visited Nyaung Oo District Directorate of Industrial Supervision and Inspection in Mandalay Region and heard reports on condition of industrial enterprises within district and providing necessary assistance for the development of MSME.

Upon reports, the Union Minister gave instructions on systematic supervision of industrial enterprises and striving for MSME development with the support of the affiliated associations. On 4th August, the Union Minister attended a meeting with the MSME entrepreneurs in Nyaung Oo District.

In his opening speech, the Union Minister in his capacity as Vice Chairman of the Micro, Small and Medium Enterprises Development Work Committee encouraged the relevant entrepreneurs to implement one region one product program successfully with the collaborative efforts of the region MSME agency.

After the meeting, the Union Minister inspected the enterprises in Nyaung Oo and Kyaukpadaung Townships including fermented bean paste businesses, Oil Mills, lacquerware industries, Fried Potato and chickpea businesses.

There are a total 355 private industrial enterprises and 402 MSME enterprises in Nyaung Oo District which are already registered. Among these businesses, the fermented bean pastes and lacquerware enterprises of Nyaung Oo District are under One Region One Product program. Plans are underway to disburse loan for the MSME entrepreneurs and a total of 180 million kyats of loan will be disbursed to 10 MSME entrepreneurs from Kachin and Shan States in the first batch.

At present, the MSME agencies are receiving applications for loan disbursement and a total of 225 entrepreneurs have already applied as of 2nd August.

Moreover, the MSME products competition is going to be held at the end of 2024 in Nay Pyi Taw under the supervision of the MSME Work Committee. Also, tasks are being carried out to amend MSME Development Law which was enacted in 2015 in conformity with the current age. Once the law is amended, micro enterprises and start-ups will be provided effective requisite assistances.