MSME Development: President addresses the Central Committee meeting

The Central Committee on the Development of Micro, Small and Medium Enterprises held its meeting in Nay Pyi Taw on Thursday.

President U Min Aung Hlaing attended the meeting and made a speech, stressing that crucial role of MSMEs for increasing production, creating jobs, reducing imports, and boosting exports. He said stronger MSMEs could help raise incomes, improve living standards, and support national economic growth.

The President highlighted the importance of agriculture-based industries, value-added products, and the use of local raw materials such as cotton, bamboo, rubber, and coffee. He also called for greater investment, better access to electricity and fuel, skilled workforce development, and support for young people and women.

He urged regional governments to actively promote MSME businesses and said that if production increases and businesses grow, Myanmar’s economy and overall development will improve.

Chairman of the Working Committee on Development of MSMEs Vice President (1) U Nyo Saw also discussed the work undertakings of the committee.

The meeting discussed the efforts for MSME development, supports for capitals and technologies, networking for market expansion, human resource development, amendment of the Law on Development and Protection of MSME, regulations for health related businesses.

In his closing remarks, the President encouraged the use of modern technologies, including AI, and highlighted the need for businesses to understand market demand and improve access to markets. He also emphasized cooperation, accurate data, proper industrial planning, and the development of tourism and service-based businesses.

He said Myanmar has strong natural resources and economic potential, and that with unity, hard work, and commitment, the country's economy can improve. He added that economic and political stability would help bring peace and development to the nation.