Vice-Senior General Soe Win unveiled that the government is responsible for supporting monetary capital and other fulfilment to MSMEs with linkages with foreign markets so as to secure firm market shares.
The Micro-, Small- and Medium-sized Enterprises (MSMEs) Development Work Committee held its meeting 1/2025 at the Ministry of Industry in Nay Pyi Taw yesterday afternoon, with an address by Chairman of the Work Committee, Vice-Chairman of the State Administration Council, Deputy Prime Minister Vice-Senior General Soe Win.
Speaking on the occasion, the Vice-Senior General noted that businesspersons have to seek technologies and recruit human resources from the technological courses jointly conducted by the Ministry of Industry and agencies for the development of their businesses.
He urged relevant ministries to cooperate in the dissemination of technologies in providing necessary technology and human resources for MSMEs.
Regarding financial capital matters, the Vice-Senior General underlined that business owners in the country can obtain MSME loans as per established procedures, financial rules, and regulations. Those affected and damaged by natural disasters require financial capital to carry out reconstruction activities. There are certain restrictions based on loan regulations and financial rules for disbursing loans. Among these restrictions, those that should be relaxed are being eased and implemented accordingly.
He stated that the government disburses K150 billion out of K170 billion as MSME loans while spending K20 billion on MSME development initiatives.
Currently, he explained that a total of 18 private banks are serving the disbursement of MSME loans to entrepreneurs due to the coordination of the MSME fund management committee.
In the insurance business, the Vice-Senior General emphasized that the original limit was set at K20 million. Currently, based on negotiation discussions, a Standard Operating Procedure (SOP) is being drafted to allow loans up to K50 million, and guarantee companies will proceed accordingly.
In previous MSME expos and competitions, he continued that One-Stop Service support was also provided to business owners who wished to export their products abroad, by facilitating connections through the country’s commercial attachés. As a result of these linkages, some were able to connect with international companies and business-related banks for export purposes. In such cases, it is essential to be proficient in using Interact services, digital technologies, and other applicable business-related technologies. Relevant ministries are also conducting training programmes to enhance the technical skills, management capabilities, and market access potential of business owners and workers. Currently, 441 types of training courses are being offered, with a total of 7,273 sessions conducted, attended by a total of 150,819 trainees.
With regard to major challenges faced by MSME businesses damaged by the earthquake, the Vice-Senior General stressed that some business owners have been able to repay their original loans in instalments, while others are unable to make repayments. There are cases where some entrepreneurs have borrowed from multiple sources, requiring verification and scrutiny.
He recounted that the Head of State approved that loans would be provided for the recovery and reconstruction of MSME businesses damaged by the major Mandalay earthquake. As the first part, K150 billion will be provided as MSME loans from the Earthquake Recovery Fund, which includes K500 billion from the National Economic Promotion Fund and the Natural Disaster Management Fund, as well as K200 billion from the Central Bank of Myanmar.
Secretary of the Work Committee Deputy Minister for Industry U Yin Maung Nyunt reported on the accomplishment of the minutes of the previous meeting and the work process of the work committee. Deputy ministers presented reports submitted to the work committee.
Vice-Chairs of the work committee, Union Ministers U Win Shein and Dr Charlie Than, explained the work process of the State for the development of MSMEs, functions of committees, MSME loan measures, implementation of the 14 works of MSMEs, and cooperation of ministries and organizations in the prompt development of MSMEs.
Union ministers, the Nay Pyi Taw Council chairman, and regional and state chief ministers discussed implementation of the meeting decisions, participation of MSMEs in the external expos, conducting of training courses, encouragement to internal and external market research works, and assistance for running MSMEs.
The Vice-Senior General coordinated discussions and gave a concluding remark. He then viewed MSME products manufactured from the Nay Pyi Taw Council Area, and export-quality MSME products displayed at the meeting room.
The meeting was also attended by Union Ministers Dr Kan Zaw, U Hla Moe, U Tun Ohn and Dr Myo Thein Kyaw, deputy ministers, work committee members and officials from organizations, together with chief ministers from regions and states through video-conferencing.
MNA/TTA
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