New Delhi, Jan 1 (KNN) India’s neighbouring nation, Myanmar is to focus on accelerated development by boosting its Small and Medium Enterprises (SMEs) as a part of its new year resolution, First Vice President U Myint Swe informed during an interaction.

In the first leg of the drive, the government will be holding competition across the country starting from early January.  In the competition, the products from the small and medium enterprises will be shortlisted and put on display for the final round.

The Vice President assured the businessmen that the government will be working closely with the sector to fetch investments, infra requirements.

Also the government is exploring the option of facilitating credit without furnishing collateral, Swe informed.

The Minister made these remarks during an interaction with the local business delegation.

He further urged the businesses to make use of the newly enacted companies law, batting that the new policy is in line with the government’s commitment for the small and medium enterprises. 

According to a report by the Central Statistical Organization, over 98 per cent of the total number of business registered in the country are SMEs. (KNN/MG)