11 October 2024
While Myanmar’s MSME business implementation is only up to 30 percent of the country’s GDP, the Deputy Chairman of the State Administration Council (SAC),Vice-Senior General Soe Win said at the meeting of the Working Committee on the Development of Small and Medium Enterprises (MSME) (2/2024), to improve the GDP participation ratio and provide more employment opportunities.
The SAC vice president said that the country’s main driving force for promoting its economy is the economy. Since MSME plays a major role in the economy, every country is making efforts to develop the national economy through the success of MSME businesses.
In our country, MSME business implementation is still only estimated to be 30 percent of the country’s GDP. To provide more employment opportunities for MSME businesses, the MSME agencies in the states and regions must jointly discuss this under the close guidance of the relevant state and region chief ministers and identify ways to implement MSME businesses as soon as possible through their OROP, said the SAC vice chairman.
Let’s look at the GDP participation rate of MSME businesses by region. The average is between 30% and 50% in Southeast Asian countries, 39% in ASEAN countries, and 41.58% in OECD (Organization for Economic Co-operation and Development) countries. According to reports, the SAC Vice Chairman said that the ability to find employment is 66.87 per cent in Southeast Asian countries, 72.3 per cent in ASEAN countries, and 62.25 per cent in OECD countries.
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