Agriculture Sector to Get Loan to Boost Exports

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Myanmar’s agriculture sector will get a loan aimed at helping the country’s exports in order to reduce the trade deficit, according to the Deputy Minister of Planning and Finance, U Khin Maung Win, More loans aimed at other sectors were in the pipe-line, the minister added.

Deputy minister U Maung Maung Win led a meeting of officials from the Central Bank of Myanmar and stakeholders from the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to discuss the loans. They discussed loans to support small and medium sized enterprises with low interest rates during the meeting the UMFCCI offices.

The also discussed how to boost the quality of Myanmar’s agricultural output to make it more competitive in international markets, with an emphasis on improving supply chains. The attendees also discussed the potential of the edible oils industry.

The private sector stakeholders at the meeting urged the government to put service sectors such as travel and tours and agricultural equipment service providers into the SME category. The meeting also dis-cussed liberalizing trade restrictions and potential tax exemptions.

 

Source: Myanmar Business Today
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