Kayin State Govt to provide loans to rubber entrepreneurs from MSME fund
June 26
The micro-, small-, and
medium-sized enterprises (MSMEs) have been encouraged by the Union government
to operate across the country, with the aim of generating value-added products
for both domestic and international markets.
In line with this initiative, the
Kayin State government has recently announced its decision to disburse loans to
individuals involved in rubber farming and related industries within the
state’s townships. These loans will be made available from the MSME fund at a
favourable interest rate, as confirmed by the Kayin State government office.
As part of its comprehensive
strategy, the Kayin State government intends to provide agricultural techniques
and capital to support the operations of rubber farms within the state. Rubber
production is primarily concentrated in Mon and Kayin states, as well as in the
Taninthayi, Bago, and Yangon regions of Myanmar.
Currently, local rubber
entrepreneurs in Kayin State manage over 260,000 acres of rubber farms.
Nationally, more than 1.628 million acres of land are dedicated to rubber
plantations across the nation, with Mon State accounting for over 497,000 acres
and Taninthayi Region having over 348,000 acres.
The rubber farms in Kayin State
yield approximately 1,000 tonnes of rubber latex per day. In the domestic
market, rubber prices are favourable, with rates exceeding K1,400 per pound.
Specifically, sundried Local 3 commands K1,470 per pound, while Ribbed Smoked
Sheet Local-3 reaches K1,490 per pound.
Myanmar presently exports various
types of rubber to countries such as China, Japan, India, South Korea,
Singapore, Malaysia, and Indonesia. This demonstrates the thriving nature of
the rubber industry and its potential for growth and profitability.
By providing loans from the MSME
fund, the Kayin State government aims to empower rubber entrepreneurs and
further develop the rubber sector within the state. This strategic initiative
will not only contribute to the economic prosperity of the region but also
reinforce Myanmar’s position as a significant player in the global rubber
market. — GNLM
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