DaNa Facility launches report on small businesses in Kachin State

UK aid-funded DaNa Facility and Dutch development organisation Cordaid has launched their groundbreaking study on small businesses in Kachin State with the aim of unlocking opportunities for these businesses to grow.

The report “The Ecosystem for Small and Medium-Sized Enterprises in Kachin State” was launched this week in Myitkyina Palm Spring Resort, which was attended by Kachin state government officials and members of the development and business communities.

The study seeks to provide donors and aid agencies with a better understanding of the challenges faced by small local businesses across Kachin, with a particular emphasis on enterprises run by internally displaced persons.

“We are pleased to see this report includes the SME landscape beyond Myitkyina, and I see this as a very inclusive and comprehensive report that shows a possible roadmap to support SMEs in Kachin State, particularly in the agriculture sector,” said Kyaw Min Oo, President of the Bhamo Young Entrepreneurs’ Association.

Kachin State is historically defined by its extractive industries. In response to increased foreign investment and a changing economy, some businesses are attempting to transition from extractive practices, such as mining for jade, gold, and amber, to more sustainable business models.

At the same time, there is growing recognition in Myanmar and among the development community that investments implemented and businesses operated with responsibility could contribute to reduced conflict, instead of exacerbating conflict as in the past.

“Understanding the private sector landscape in Kachin and the challenges SMEs face is essential for creating new opportunities for inclusive growth – growth that creates economic opportunities for poor communities and internally displaced persons,” said Tom Coward of the UK’s Department for International Development in Myanmar.

Understanding the SME landscape in Kachin State has the potential to create economic opportunities for people from poor communities and for groups that commonly face social and economic disadvantages, such as women, people with disabilities, and people living in conflict-affected regions.

Source: Myanmar Times

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