MSME Promotion Key to National Economic Growth

 

Mandalay Region’s gross domestic product is estimated at around US$9 billion annually, accounting for approximately 10 per cent of the country’s total GDP.

Mandalay Region is in a satisfactory position in terms of the cultivation and production of 14 key crops, and continued efforts are encouraged to achieve even higher targets, said U Min Aung Hlaing, President of the Republic of the Union of Myanmar, at a meeting with departmental officials and micro, small and medium enterprise businesspersons at the city hall in Mandalay yesterday afternoon.

In his address, the President highlighted that Mandalay Region’s gross domestic product is approximately US$9 billion per year, accounting for about 10 per cent of the country’s total GDP.

He spotted that failure to meet target goals for 10 major crops has resulted in annual losses of approximately K3,765 billion in Mandalay Region. Nationwide, the losses are estimated at around US$8 billion annually. If full multiple-cropping potential could be achieved on the existing cultivated acreage, the country could gain an additional annual benefit of about US$20 billion.

The President stressed that the national economic development must be promoted by encouraging and supporting agro-based industries as well as micro, small, and medium-sized enterprises (MSMEs).

Regarding the livestock breeding sector, the President underlined that if regional self-sufficiency in consumption can be achieved and expanded nationwide, the prices of meat and fish could also decline. Furthermore, if more animal feed based on locally produced agricultural products is manufactured and livestock breeding activities are carried out systematically, it would help ensure regional food security and reduce rising commodity prices.

 

In the agriculture sector, he underscored that cotton-based industries can be operated in Mandalay Region successfully. Officials need to manage the improvement of weaving industries in Mandalay Region. A plan is underway to distribute cotton processing machines to Mandalay Region.

He noted that the cooperative system is the best for regional development. The individuals with the least capital carry out the manufacturing of agricultural and livestock products through cooperative efforts to earn income.

He stressed that as Myanmar emphasizes agriculture and livestock activities, agriculture, livestock and industrial subjects are being taught to the basic education middle and high school students. It is necessary to continue supporting and nurturing future generations equipped with knowledge and skills who will lead the nation in the future.

Concerning water supply measures, the President gave guidance that people of Mandalay Region have to efficiently utilize necessary sources for water sufficiency.

He urged residents to work together to ensure the beauty and attractiveness of their region, preserve and promote traditional heritage, traditional clothing, and local foods, and provide good services to travellers. As arrivals of travellers to the region contribute much to the economy of the region, efforts must be made to improve the tourism sector.

At the meeting, Mandalay Region Chief Minister U Myo Aung reported on the land utilization, the increase of agricultural productivity within five years, target cultivation and production of 14 major crops, food security, efforts to develop agriculture and livestock activities within 100 days, formation of agriculture, livestock and production cooperative societies, and implementation of the rural development projects within the 100-day plan of the government.

MSME businesspersons from Mandalay Region submitted reports on the implementation of the Mandalay-Myotha industrial park, efforts of MRCCI to ensure smooth economic process between the government and private sectors, encouragement of MSME businesses, electrification for industrial zones, assistance of the government to send entrepreneurs from Mandalay Industrial Zone to attend international technological and business fora, permit to import modern looms, production of quality iron wares from the foundry entrepreneurs of Mandalay.

The Union Ministers discussed the generating electricity from solar power for industrial zones, sending business persons to international forums, assistance for import of necessary machinery, needs to contact the Myanmar Iron and Steel Association to produce iron and steel wares for construction projects, participation in anti-air pollution and greening measures, formation of cooperative societies to develop agriculture, livestock and production activities in the region, inputs and techniques for agriculture and livestock measures, supply of quality seeds, efforts to improve railway transport, and implementation of digitalization.

The President viewed around the MSME products, domestic foodstuffs, handicrafts, and garments in booths and gave necessary guidance.

Also, present at the meeting were Union ministers, deputy ministers, senior Tatmadaw officers from the Office of the Commander-in-Chief, the commander of Central Command, district-level officials, and MSME entrepreneurs. — MNA/TTA