Govt committee to aid small businesses
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The Small Medium Enterprises Development Central and Work Committee has been formed to assist small businesses (SMEs) in Myanmar, according to the Presidential Office.
The government has set up the committee to give them a boost, as SMEs face hard times despite recent reforms.
The committee is led by the president with the two vice presidents, while eight union ministers from the Presidential Office will act as secretaries (three) and joint secretaries (five).
The members include 20 union ministers, the union attorney -general, the union auditor-general, ministers from divisions and regions and the president of the UMFCCI (Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry).
The committee will draw up necessary rules and regulations, promote an open economy, provide loans from both government and private banks, assist with required technologies, connect with the international market and develop human resources.
The work committee will be chaired by a vice president with the union minister from the Ministry of Commerce as secretary and union minister from the Ministry of National Planning and Economic Development as joint secretary. Members include five union ministers from the Presidential Office, ministers and deputy ministers of Commerce, Finance, Hotels and Tourism, Agriculture and Irrigation, Science and Tech, Health, Education, Energy, Electrical Power, and Communication and Info Tech and the vice president of UMFCCI.
