The Ministry of Industry and MSME Development is facilitating direct trade links between farmers and MSME entrepreneurs to strengthen local supply chains and promote value added production.
The effort for sustainable development in the MSME sector targets four interconnected pillars: raw materials, inputs, capital, and human resources.
MSMEs are encouraged to process domestic agricultural, livestock and natural resource raw materials into finished products instead of exporting them unprocessed. The relevant departments are also coordinating matters s to facilitate imports of industrial raw materials and machinery not available locally and to enjoy customs duty relief.
Prioritizing electricity supply for MSME factories and workshops and providing technical support for transitioning to renewable energy sources such as solar and biomass are also being undertaken. In addition to the state established MSME fund, banks are also extending loans at fairer interest rates, with expanded credit guarantee schemes to help businesses lacking sufficient collateral. Online loan applications to the respective banks are being rolled out to improve convenience. The relevant ministries are also conducting courses related to enhancing capacity building to produce skilled workers, empowering human resources in MSMEs, digital marketing, digital banking, e-government systems, production technology, finance and management.
At present, ten ministries have offered 463 types of training across 1,021 sessions, reaching 201,140 participants, with another 1,106 currently enrolled. — ASH/KK #GlobalNewLightOfMyanmar