UMFCCI calls for favourable business environment for MSMEs
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Hsu/ (NP News) – May 8
The Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Aye Win said that legal framework which are flexible and which can empower the development of MSME are urgently needed.
The UMFCCI Chairman addressed it during the MSMEs products exhibition held at Lotte Hotel in Yangon on 7 May.
“Here, I would like to highlight that for the actual development of the MSMEs in Myanmar, pragmatic and flexible policies and legal frameworks are the down-to-earth necessities for the related sectors. On the other hand, the financial resources, technical and machinery assistance, technical expertise, and market are also important for booming of the MSME.” he added.
Moreover, the Chairman also said that having the human capital with entrepreneurial mindset also plays an important role in the development of MSME.
He continued saying that in Myanmar, the MSME industries have already taken the major portion of the private business sector. Consequently, the development of these MSME has become a major driving force and its development is directly proportional to the country’s economic development.
It is also reported that for the UMFCCI, they are also conducting the measures to promote comparative advantages of the local business enterprises up to global level.
Moreover, he added that they are also considering to provide risk reduction protections to business industries and the emergence of resource hub that can support multidimensional development.