Myanmar plans to boost the development of small and medium enterprises (SMEs) from early January by introducing competitions in sectors across the country.
A weaver at work in Inle, near Mandalay of Myanmar (Photo: The Myanmar Times)
Nay Pyi Taw (VNA) -Myanmar plans to boost the development of small and medium enterprises (SMEs)from early January by introducing competitions in sectors across the country.
The official Global New Light ofMyanmar quoted First Vice President U Myint Swe as saying that the productsfrom the SMEs will be displayed and those which are up to standard in theregional competitions will contest in the final round in Nay Pyi Taw.
Local experts who have internationalexperience in SME development will be assigned as advisors, he added.
He pledged that the government will be working together to help business obtaincash investment, basic infrastructure such as electricity and loans withoutcollateral.
Loans will be provided to those entitledwithin 30 days, he said, disclosing that the state-owned Myanmar Economic Bankwill provide loans totalling 200 billion kyats (about 147 million USD).
According to a studyby the Central Statistical Organisation, 98 percent of the more than 120,000businesses registered in Myanmar are SMEs.-VNA
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A weaver at work in Inle, near Mandalay of Myanmar (Photo: The Myanmar Times) 
