Friday, February 22, 2013

Time to address SME policy

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Friday, 22 February 2013 12:51 Khin Myo Thwe

Several entrepreneurs and politicians in Myanmar are calling for a definitive policy on Small and Medium Enterprises (SMEs) ahead of the commencement of the ASEAN Economic Community in 2015.

Small and Medium Enterprise Development (Photo: Ministry of Industry No. 2, Myanmar)

Speaking at the Upper House of Parliament on February 20, MP Myint Kyi of Yangon Region Constituency No. 8 proposed that SMEs policies should be laid out in a timely manner ahead of 2015.

U Hnin of the Myanmar Fisheries Federation said, “Currently, there are 126,958 industries in the country, of which 126,237 are SMEs—that’s 99.4 percent of the country’s economy. Therefore, establishing a conclusive policy is very important.”

According to official data, there are 9,565 SMEs situated in Myanmar’s industrial zones.
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