Myanmar needs to achieve making its primary goods into value-added products to sell to export markets rather than selling as primary products, said State Counsellor Aung San Suu Kyi on December 9.
The State Counsellor made the comments at the Myanmar Entrepreneurship 2017 held on that day in Nay Pyi Taw.
“Our country is in fact rich in agricultural products and natural resources. But, as everyone knows, Myanmar cannot compete in quality with neighbouring and regional countries. Thus, based on the demand market, we need to innovate with new technologies for an improved quality and to manufacture value-added products for export markets rather than selling primary products,” Aung San Suu Kyi said.
She continued to say that the improvement of businesses in Myanmar requires finance, market and guidance. Although it is difficult for entrepreneurs to get capitals and loans, it needs to try other alternatives not relying only on conventional bank loans. Moreover, established businessmen should support and contribute to the success of startups by financing them through share take-ups, said Aung San Suu Kyi.
“Ours is a geostrategic nation, lying between the most populous and economically fast-growing China and India. This provides a heap of advantages as well as multi challenges. We need to make strides so as to overcome the challenges on one hand and utilise the advantages as a given chance on the other hand,” she continued.
Entrepreneurs in Myanmar should ensure the sharing of experiences acquired from regional programmes with the compatriot youth, and innovations should be attempted based on the gathered experiences, said Aung San Suu Kyi.
