THE GLOBAL NEW LIGHT OF MYANMAR

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MSME Activities Require Enhanced Focus and Support

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MSME Activities Require Enhanced Focus and Support

The government plans to continue the implementation of the reform process under the democratic principles, said President of the Republic of the Union of Myanmar U Min Aung Hlaing at the meeting of the Union Government at the President’s Office in Nay Pyi Taw yesterday morning.

In his speech, the President said that some countries are still exerting pressure by imposing restrictions and economic sanctions on the current government, which is carrying out its duties in accordance with democratic principles chosen by the people. The government plans to continue the implementation of the reform process under the democratic principles.

In the agriculture sector, the President stressed that as Myanmar is one that cultivates oilseed crops, reliance on imported edible oils should not be necessary.

There is market demand for oil crops such as sesame, sunflower, and soybean, and efforts must be made to improve the quality of Myanmar Pawsan rice and Myanmar coffee – both of which have strong demand – and to ensure they meet market requirements for export.

Regarding the rising prices of meat and fish, he stated that if self-sufficiency can be achieved nationwide through ensuring sufficient local consumption, the prices of meat and fish could also decline.

He noted that relevant ministries need to coordinate and cooperate, and local authorities, as well as residents, must also work together in collaboration in order to promote the growth of both domestic and international tourism.

In order to strengthen the national economy, it is necessary to actively support and promote MSME businesses, as even some developed countries continue to rely on SME enterprises. In the regions and states as well, MSME activities should be given special emphasis and encouragement, and priority should be placed on manufacturing based on locally available raw materials.

During the previous second democratic government term, the President recounted that the country suffered financial losses amounting to US$13.344 million and K226.107 billion due to reckless actions by state and union-level officials. In order to prevent such occurrences, it is necessary for all activities to be carried out carefully and in accordance with established rules and procedures.

Union ministers discussed the distribution of urea fertilizer and fuel to farmers in time for growing summer paddy and monsoon crops, the efforts to meet the target yield of sunflower, sesame and edible crops and export of rice through the export zones, cultivation of soya bean, hatching shrimps and breeding of dairy cows, effective prevention of using farmlands in other ways without permission, and encouragement of cooperative societies to farmers for systematic agriculture and livestock activities.

Moreover, they reported on the production of oil and natural gas, implementation of offshore projects, upgrade of the Thanlyin oil refinery to ensure local fuel security, distribution of fuel at home through the digital system, generating electricity from natural gas and hydropower, as well as solar energy, and plans set to increase the generation of electricity and supply of electricity without loss.

Furthermore, they presented reports on beefing up MSME businesses, disbursement of capital to MSME industries, efforts to improve cotton cultivation and production, as well as manufacturing value-added bamboo products, conducting the placement test for children outside the learning society to admit them to the government schools, and inspection for private schools to follow the systematic procedures.

Vice-President U Nyo Saw gave a supplementary report on the expansion of Union ministries and the need to finish the work process in the financial year.

In his response, the President stated that sunflowers, soybeans, and sesame are cultivated in Magway, Sagaing, Ayeyawady, Mandalay, and Shan State, and it is desired that efforts be made to achieve the target yield per acre based on the current cultivated acreage.

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