MT News
Arrangements are underway to disburse loans to ensure development of MSMEs and loans will be disbursed to coffee cultivating enterprises at an appropriate interest rate, Chairman of the State Administration Council Senior General Min Aung Hlaing said.
The Senior General made this comment during the meeting with coffee entrepreneurs from PyinOoLwin in Mandalay Region at the town hall of PyinOoLwin on 2 December.
The coffee entrepreneurs in attendance reported on sales of coffee in local and international markets and requirements for coffee cultivation and production, systematic reviews of construction of designated buildings in relation to coffee growing and coffee production on the allotted land and coffee tax reliefs, use of vehicles for business purposes, coffee cultivation and needs for capital loans.
Regard to the reports, the Senior General said that Coffee cultivation in PyinOoLwin contributes to regional development and economy, so efforts will be made for greater success.
Taxation measures will be reviewed and taken to create an eco-tourism based on coffee cultivation. GAP certificates are being issued, and with progress in good practices, there will be tax reliefs, the Senior General said.
The nation has about 49,000 acres of coffee. If there is an increase in the per acre yield, the gains will be different. It is to prefer to give more encouragement to having an increase in per acre yield rather than extension of cultivated acres. Increase in per acre yield will be coming along with more individual income. There will be an increase in the nation’s income too. If coffee products are able to be imported, there will be more foreign exchange earnings and of help to the development of the nation.
Aimed to encourage local commodity production, substitute imports, be export items, MSMEs are being encouraged. With regard to loans, the State offers lower interest rates than foreign nations’.
