MSME Action Plan for Yangon Region yet to be approved

16 November 2019
MSME Action Plan for Yangon Region yet to be approved
Photo: Thet Ko/Mizzima

The MSME Action Plan for micro, small, medium enterprises in the Yangon Region was presented and discussed at a two-day workshop but on day two still needed work to be finally approved.

The MSME (Micro, Small and Medium Enterprises) Action Plan workshop was held for a second day on November 14 at Park Royal Hotel in Yangon.

Director Aye Aye Win from Directorate of Industrial Supervision and Inspection said the full draft still needed to be completed as corrections were needed, noting the workshop had been held in haste.

Drafting and discussion of this MSME Action Plan for Yangon Region includes 8 sectors, namely law, procedures, rates and rent, production capacity, technology and innovation, women and youth, promotion of business startups, loan availability, market availability, entering international market, Green SMEs, corporate social responsibility, all-inclusive MSME, and a framework for supporting institutes.

In the drafting of this MSME Action Plan, the SME entrepreneurs in Yangon Region reportedly included the proposals for government’s support to MSME, domestic market availability, penetration in the international market, technology, information sharing, change of law and drafting of new law, and loan availability.

The facts and points discussed at this workshop will be included in the MSME Action Plan and then Central Committee for MSME businesses development of the local government concerned will carry out a revision and change policy and rules in cooperation with union ministries with the intention of helping the SME market. Currently there are over 2,500 MSM enterprises in the Yangon Region and it has the potential for development as this region is the economic hub in the market economy and has many opportunities.

Wood-based Furniture Enterprises Entrepreneurs Association Chairman Nay Lin Aung said, “Most of the discussions are on procedures for speedy business actions but some proposed even using digital systems for speedy business transactions. And some discussed the production of chemical-free food stuffs and quality food products. We also participated in this workshop by discussing raising production capacity and uplifting human resources. So I think this two-day workshop was very much of benefit to us.”

Currently 12 States-Regions and Naypyitaw Council have successfully drafted and approved MSME Action Plan and only Yangon and Sagaing Regions are left to complete this work. It is learned that Sagaing Region will hold its workshop for MSME Action Plan during this month.