Yangon Region Chief Minister Phyo Min Thein said that there were over 30,000 businesses of Micro, Small, Medium Enterprises (MSMEs) registered as business entities in the Yangon Region and they run the region’s economy.
“We compiled the list of these businesses by using digital technology. Over 30,000 businesses are registered in the region and our business is run by these 30,000 business persons. The number of the MSMEs may be more than that,” CM Phyo Min Thein said.
The Chief Minister was speaking at the 7th Local Products of MSMEs Trade Fair and Contest that was held at Fortune Plaza in Thaketa Township, Yangon on 16 November.
Vice-President (2) and Chairman of Development of MSMEs, Myint Swe, said that Yangon Region was the most populous region in Myanmar and it had the seaport so that most of the businesses were based in Yangon and it was the market hub of MSMEs for their trade, services and manufacturing.
Managing Director Zarni Maung Maung of REPASSA Company Ltd., which displayed its products at this Trade Fair, said that holding trade fairs would give opportunity for coordination and exchanges in technological requirements and assistance in exploring markets for local products.
“The trade fairs provide opportunity for getting markets for locally manufactured products in both the foreign and domestic field. Yangon has one great advantage of having foreign missions and foreign commercial and business organizations besides many business persons,” Zarni Maung Maung said.
In this 7th Trade Fair there were 312 exhibition booths including eight ministerial and departmental exhibition booths. The first domestic product trade fair and contest was reportedly held on February 23 this year in Mandalay.