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