MICRO-, small and medium-sized enterprises (MSMEs) are key sources of jobs, income, and local growth, especially for women, young people, and vulnerable groups. Their size and flexibility help build strong, fair, and sustainable communities.
Myanmar has enacted the law for MSME since 2015 to accept the information related to business, technical assistance and financial aids for the small and medium enterprises, to reach local and international markets and enhance the competitiveness of small and medium enterprises, to have new employment opportunities and increase income of the people through the development of small and medium enterprises and to reduce the difficulties and obstacles in business operations of small and medium enterprises.
MSME is a great pillar to develop the State economy and to enhance the socioeconomic life of the people. Hence, the government of Myanmar is encouraging the development of MSMEs across the nation with the establishment of industrial zones. Currently, there are 102 State-owned factories and 47,119 privately run industries. The government has established 33 industrial zones and industrial wards in addition to three special economic zones, namely Thilawa, Kyaukpyu and Dawei special economic zones.
Practically, MSME businesses face serious challenges in operating their production. They often struggle to get loans, deal with poor infrastructure, and work under tough conditions. Many operate informally, which limits their access to funding, legal rights, and government support. Only when relevant governments support these businesses will they boost their businesses. In order to successfully operate their functions, MSME businesses need human resources, financial support, technologies, the government’s encouragement, and many other factors.
MSMEs hold the potential to transform economies, foster job creation, and promote equitable economic growth if given adequate support. MSMEs Day aims to highlight their pivotal role and explore opportunities for their further advancement. Hence, the United Nations General Assembly designated 27 June as “MSME Day” to raise awareness of the tremendous contributions of MSMEs to the achievement of the Sustainable Development Goals (SDGs).
It is necessary to implement the theme of MSME Day 2025, “Enhancing the role of Micro-, Small and Medium-sized Enterprises (MSMEs) as drivers of Sustainable Growth and Innovation”. As such, not only the government but also the private sector needs to strive for the development of the economic sector of all countries with their efforts to successfully boost MSME businesses. So, everyone needs to realize that only when MSME develops will people of all countries be able to enjoy a higher living standard.
