VP U Myint Swe addresses opening ceremony of 6th ACCMSME

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Nay Pyi Taw, November 5,

Vice President U Myint Swe addressed the opening ceremony of the 6th ASEAN Coordinating Committee on Micro, Small and Medium Enterprises (6th ACCMSME), at the Park Royal Hotel, Nay Pyi Taw, yesterday morning.
The ceremony was attended by Union Ministers U Khin Maung Cho and Dr. Than Myint, Deputy Ministers U Aung Hla Tun, U Hla Kyaw, Dr. Tun Naing and U Maung Maung Win, Central Bank of Myanmar Deputy Governor U Soe Thein, ACCMSME alternating Chairman Mr. Lor Sathya, Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry President and member along with representatives from ASEAN member and partner countries, experts, specially invited guests and officials.
In addressing the ceremony, the Vice President spoke of being honored to host the 6th ACCMSME and related meetings.
The ASEAN SME Agency Working Group (SMEWG) was started in 1995 with the aim of including micro businesses and to cooperate with ASEAN Working Groups. It was expanded and renamed the ASEAN Coordinating Committee on Micro, Small and Medium Enterprises (ACCMSME).
Today’s meeting was described as a very important meeting for development of MSMEs in the ASEAN region. The five strategic work processes for the development of MSMEs in the ASEAN region are increasing production capacity, technology and innovation, support in obtaining financial investments, expanding markets, regulating the policy and legal framework to step up to international levels. and encourage entrepreneurship and human resource development. There are Key Performance Indicators to measure the achieving of targeted results in implementing the work processes. These Key Performance Indicators are to be used to achieve the aim of economic development.
ASEAN is a community that makes up a sizable area in the world. In a single ASEAN community, all are urged to work together toward an ASEAN community, which provides security and stability, sustainable development, development for all countries, and ensures the highest economic growth.
There are 12 priority sectors in ASEAN MSMEs. Of those, seven are production sectors and five are service sectors. The majority of the MSMEs are seen in the travel sector, garment and clothing sector, agriculture products production sector, wood products sector and fish breeding sector.
To expand the market of MSMEs in the travel sector, garment and clothing sector, supply linkages are required, as well as other opportunities, such as obtaining information resources. Furthermore, MSME sectors in the ASEAN region are seen to be facing financial constraints, challenges related to technology and market situations, in addition to insufficient information, and economic and policy difficulties.

These difficulties and problems are to be overcome through the force of ASEAN regional unity, together with the cooperation and support of international and partner countries. ACCMSME plays an important role in connecting MSMEs in the ASEAN region. ASEAN region countries have differing topography, land, water and resources. These differences are to be used as a major force in penetrating world markets through innovation and inventions.
Myanmar fully supports the works conducted by ACCMSME. With regards to the MSME sector, Myanmar is using the experience gained from attending regular ASEAN MSME meetings to develop its MSME works. For MSME development in Myanmar, effective support was provided in investment, assisting in acquiring technical support, seeking out markets, protecting MSME through an effective legal framework and the human resources development sectors. In addition to this, mid and short term Quick Win sectors were conducted, while long term works were held under a Twin-Track process.
As it is November 2018, this is the midway of the 2016-2020 Phase 1. All works that were conducted are to be reviewed in the meeting and definitive work processes for the next two years are to be drawn up and implemented.
The Vice President also thanked the representatives of ASEAN region countries, partner countries of China, Japan, South Korea, India, Russia, and partner organizations, including OECD, USAID and GIZ.
The ceremony came to a close after Vice President U Myint Swe and ceremony attendees posed for commemorative group photos.
During the second part of the ceremony, Union Minister for Industry U Khin Maung Cho led the 6th ACCMSME meeting. — MNA (Translated by Zaw Min)