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YANGON- With the aim for development of small and medium enterprises (SMEs), government will be providing SME centres not only in States and Regions, but also in border areas.
“The government is planning to open SME service centres across the nation. We have mainly targeted to open SMEs service centres in border areas,” said Win Aung, chairman of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). He was speaking at a ceremony marking the launch of a free website for SME entrepreneurs held at the UMFCCI’s headquarter on Monday.
The SME service centres aim to provide technical aids, investment and market.
“We have already laid down the plans to opening of SME service centres across the entire nation. It is very important to cooperate with other brotherhood associations’ participation. The SMEs have three requirements: technique, market and investment. Regarding the investment sector, the government’s support is much needed. And then, we need the institutes that will distribute the technique across the nation. We must try by ourselves to penetrate the market. We urge other associations and business organisations to provide for the SMEs for the creation of opportunities,” said Win Aung.
Moreover, Small and Medium Industrial Development Bank (SMIDB) will give loans, mostly Ks 100 million, to SMEs with an interest rate of 8.5 per cent per year. The SMEs must repay their loans over three years.
The bank aims to reduce poverty, create more job opportunities and improve SMEs.
At the end of September, the bank had given the loans to 12 entrepreneurs from SMEs. Moreover, it provided loans of Ks 10 billion to 62 business peoples and will extend its bank loans up to Ks 20 billion.
Source: ELEVEN MYANMAR