He urged increased competitiveness of small and medium business at home through enhancing capacity and productivity.
The president warned against the challenges of foreign investment influx and free trade agreement of ASEAN Economic Community.
He stressed the need for accuracy of facts and figures, proper assessment of the success and failure of business to offer assistance, effective reduction of transaction costs in face of commodity influx under ASEAN Free Trade Agreement, high quality of products formation of task forces, cooperation with local and foreign organizations and effective government-private partnership for continuous development.
There are 126,237 registered SMEs in Myanmar, accounting for 99. 4 percent of overall industries across the country.
In its efforts for industrial development, Myanmar is working to enhance the role of private and public sectors.
"Only with industrial development will there be technological development, poverty alleviation, more and more job opportunities, and national economic development", the Ministry of Industry has said.
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