Thailand
Myanmar SMEs to get a boost from Thai bank
Market competitiveness of small and medium enterprises in Myanmar which operate in traditional ways will be developed under an MoU signed between the Central Department of Small and Medium Enterprises Development (CDSMED) under the Ministry of Industry and KASIKORNBANK (KBank) of Thailand.
SMEs are weak in market competitiveness, technology, financial management and market compliance of their products. In this regard, KBank will cooperate in conducting SME capacity building programmes in Myanmar, said CDSMED Director General Daw Aye Aye Win.
Under the MoU, signed yesterday at Mya Nandaw hotel in Nay Pyi Taw, a capacity building programme will be conducted for SME entrepreneurs in Yangon, Mandalay and Bago regions, Mawlamyine, Myeik and Taunggyi which are near the Myanmar-Thai border, said Daw Aye Aye Win.
“We will educate them [SMEs] in financial management to know where the wastage is. And in financing, they need a business plan as well as a sustainable plan.
“Some SMEs are operating without a business plan and target. Only if they have such plans and targets will their enterprises develop,” she said.
Moreover, Myanmar SMEs are weak in business structure, accounting, taxation, market management, human resource management and capital management, she said
“To correct all this, we will cooperate with KBank. If the entrepreneurs are interested and they invest, we can support them, especially in manufacturing to meet market requirements,” added Daw Aye Aye Win.
As SMEs are major contributors to Myanmar’s economy and job creation, they must be able to meet challenges, create business opportunities, upgrade technology and settle financing issues to develop, said KBank vice-chair Mr. Pattanapon Tansomboon.
The capacity building programmes for SME entrepreneurs will start in May in Mon state, said Daw Aye Aye Win
“The Mon programme will focus on business plan and accounting. Then it will continue in Taunggyi in June, followed by other programs,” she added.
Yangon, Mandalay and Bago regions have been chosen because many SME entrepreneurs are based there and agricultural products from those areas are distributed throughout the country.
Major towns near the border are also selected because they are hub cities for border trade and have a lot of economic resources, said Daw Aye Aye Win.
“Under the programme, Myanmar SMEs will be able to obtain support and loans not only from the State but also from international organisations for their systematic development.
“We will reform the SME sector. We will provide training. We will guide in capacity building. When they become strong and stable, we have a Danish programme (Danish loan). We will support SMEs with that loan.
“Moreover, we are also discussing with the World Bank and other organisations on such support,” continued Daw Aye Aye Win.
Source: http://www.mmtimes.com/index.php/national-news/nay-pyi-taw/25525-myanmar-smes-to-get-a-boost-from-thai-bank.html