23 Oct
Union Minister for Planning, Finance and Industry U Soe Win yesterday morning held a virtual meeting with World Bank Country Director for Myanmar Ms Mariam Sherman and her group to discuss the Private Sector Growth and Competitiveness Project.
During the meeting, the Union Minister welcomed the World Bank’s suggestion for implementation of the Private Sector Growth and Competitiveness Project.
The Union Minister said that Myanmar’s economy, especially the Micro, Small and Medium Enterprises (MSMEs), were affected by the COVID-19 pandemic. He added that the project will help implement National Single Window (NSW) implementation conducted by Myanmar Customs Department.
The project will support innovation for MSMEs, enhance the capacities of employees and promote the supply chain connectivity, and it will also help Myanmar remedy the economic impact, according to the Union Minister.
World Bank’s senior economist Mr Faya Hayati and leading private sector specialist Mr Philippe de Meneval explained the project. Their discussions focussed on development of Customs procedures, trade facilitation, plan to share experiences and to provide technical assistance, marketing, and low-interest loans from the World Bank.
Myanmar is making efforts to promote the private sector, facilitate trade, combat illegal trade, and develop the SME sector, and if the Private Sector Growth and Competitiveness Project is effective and successful, many benefits will be brought.
The virtual meeting was also participated by Deputy Ministers U Maung Maung Win, U Sett Aung, and Dr Min Ye Paing Hein, Permanent Secretary U Ko Ko Lwin and other relevant officials.
MNA (Translated by Maung Maung Swe)
