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Myanmar puts emphasis on development of SMEs


09:04, January 14, 2013

YANGON, Jan. 13 (Xinhua) -- Myanmar government is putting emphasis on development of small and medium enterprises (SMEs) and has recently formed a central committee for further development of the SMEs, pivotal for national economic development and promotion of social-economic status of people.

The 27-member Central Committee for SME Development is chaired by President U Thein Sein with two vice presidents Dr. Sa Mauk Kham and U Nyan Tun being the vice chairman.The committee also has 20 ministers as members.

The central committee is tasked to formulate and promulgate laws, regulations and procedures for SME development, ensure that the government and private banks effectively provide financial capital for SME development, establish a network with local and foreign organizations to meet technical requirement, encourage market development of SME from rural to urban areas, make SME supporting industries for local and foreign investment to promote healthy development of market chains and to plan for nurturing human resources for SME development.

Along with the setting up of the central committee for SME development, a 15-member work committee was also set up.

Shortly after the establishment, President U Thein Sein convened the first meeting of the committee, calling for developing and protecting domestic SMEs.

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