Centre set to help improve productivity in Myanmar

Myanmar’s plans to raise economic productivity through improving human capital development will now be backed by the Myanmar Productivity Centre (MPC), an agency that aims to help the economy move up the value chain.

The MPC was launched on June 22 with the support of the Ministry of Industry (MOI), Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Japan Productivity Center, with funding from the Asean Integration Fund.

MOI permanent secretary U Ko Ko Lwin said the MPC fulfills the need for capacity building in the country. “It will focus on improving productivity,” he said.

UMFCCI general secretary U Aung Kyi Soe said raising productivity levels by moving up the value chain would help the economy as goods that were being imported can be substituted with local products while at the same time help local manufacturers export more.

“We are mostly a primary commodities producer and the trade balance tilts in favour of imports. We need to raise productivity in order to export more and substitute imports with local products. The MPC’s role will be to coordinate the sharing of technology and to advice,” he said.

The government aims to boost trade by helping micro, small and medium enterprises move up the value chain. The setting up of the MPC would be a boost in helping these businesses, which can benefit from not only technology-sharing but also training and advice.

Myanmar mainly exports agriculture, marine, mineral, forest and manufacturing products. According to Ministry of Commerce data, from October 2018 to April 2019, exports were valued at US$9.8 billion while imports were valued at US$10 billion.

Source: Myanmar Times

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