Sustainable Business Myanmar

small_business

Development of SMEs in Myanmar

Original article “Myanmar puts emphasis on development of SMEs” from shanghaidaily.com

“There are 126,237 registered SMEs in Myanmar, accounting for 99. 4 percent of overall industries across the country.”

“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. [Sai] Mauk Kham and U Nyan Tun being the vice chairman.The committee also has 20 ministers as members.”

While having the President and cabinet as chairman and members of the committee reflects the Government’s serious intentions, having a good majority of the cabinet as committee raises questions on effectiveness ground. They should instead set up ‘statutory boards’ to head such national policy.

Examples can be followed as close from as Singapore – with SPRING Singapore, Economic Development Board of Singapore and International Enterprise of Singapore among others which focus on SME development and general enhancement of Singapore’s economy.

These statutory boards are usually given autonomy to perform and report to one specific ministry. Their functions include management advisory, financial support, overseas business access and as an information center for SMEs and its potential partners. Through such activities, such boards help shape the country’s economic future. Some of these statutory boards were corporatised upon market needs.

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