Myanmar hosts SME exhibition to boost economy

26 August 2017
Myanmar hosts SME exhibition to boost economy

Myanmar kicked off a three-day exhibition for SME products, aiming to develop industries and technologies vital to the country’s future development and enhance innovation and creativity. The exhibition is organized by the Ministry of Industry and Myanmar Promotion Services, from 25-27 August 2017, at MICC-2 in Nay Pyi Taw.
The development of industrial and technological sectors will play a crucial role in Myanmar’s future growth. SMEs can also play an important role in linking local and foreign markets. That’s why the goals of this exhibition are:to introduce international technologies to help further the development of Myanmar’s SME sector;to enhance public awareness of domestic and international technologies; to expand value-added production and the use of advanced technology, by undertaking technology exchange, and increasing cooperation and coordination between public and private organizations;to encourage domestic creativity and innovation.
In line with its SME development policy, by hosting SME exhibitions, the government aims to drive the country’s economic growth, encourage the role of entrepreneurs and SMEs and build connections with the regional and global communities.
Speaking at the meeting of the SME Development Central Committee earlier this year, State Counsellor Daw Aung San Suu Kyi said:
“SMEs as a sector we cannot afford to ignore improving as they make up 99 per cent of our economic force, so there is no need to clarify just how important they are in the development of our nation. Concerning SMEs, our government departments have classified human resources, technical and creative support, capital funding, better infrastructure, gaining a foothold in the marketplace, imposing reasonable taxes and regulations and creating suitable business environments as priorities.”
At the exhibition, products of individual departments under the Ministry of Industry will be displayed together with those from international technology and industrial companies. The public can purchase products at special prices.
There will also be an “Inventor Award” competition to reward outstanding innovations among the 36 companies taking part in the exhibition.
The exhibition is focused on the public sector with companies and products from sectors including agriculture, industry, security, and communication.