Unite the strength of MSME businesses to support the State economy
December 23
The government is giving
encouragement to the development of micro, small, and medium-scale enterprises
as part of managing the manufacturing of products as an import-substitute
measure and promotion of export volume. It emphasizes the improvement of the
manufacturing sector among trading, service and other sectors in the MSMEs.
MSME business plays a key role in
the development of the State economy. So, the MSME Development Law and policy
were enacted in 2015 and by-law in 2016 in order to create new job
opportunities. Although more than 40,000 MSMEs have been registered across the
nation, the majority of products do not get good prices in the market due to
low quality. Practically, the root cause of low quality depends on outdated
machinery and technology and lesser developed human resources.
As Myanmar is able to practically
manufacture the products such as foodstuffs, beverages, textiles, garment
products, leather products, finished wood products, medicines and botanical
products, rubber and plastic products, minerals, basic metal products,
furniture, agricultural produce, livestock and forest products, priority must
be given to manufacturing measures. It is because these products can be
produced with an adequate volume of raw materials at home without technical
requirements.
It is important to create good
environments for developing MSME businesses and fulfilling other requirements
in addition to protecting the domestic market for locally made goods. Moreover,
authorities need to levy increased tariffs against imported goods similar to
locally made products, effectively suppress and eradicate illegal trade
activities and eliminate corruption cases so as to develop MSME businesses.
As now is an opportune time for
entrepreneurs to strive for improvement of their businesses to achieve success
with new ideas and strength in manufacturing high-quality products to be able
to penetrate foreign markets as the government is encouraging MSME businesses
for booming the State economy.
Anyone should not underestimate
domestic raw materials. It is because a lot of these materials are available in
relevant regions and these are cheaper ones but high quality to be used in
manufacturing. As such, MSME products should be manufactured with the use of
domestic raw materials in relevant regions by saving production costs and
minimizing loss and waste.
Up to now, most global countries
are relying on MSME businesses to booming their economy. It shows a sound
foundation can contribute much to the construction of great buildings. So also,
the united strength of MSME businesses will be a reliable strength for the
State economy.
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