Monday, 17 March 2014

Myanmar to support industrial zones for economic development

YANGON, March 13 (Xinhua)-- Myanmar Small and Medium Industrial Development Bank (SMIDB) is planning to lend 20 billion Kyats (20. 62 million U.S.dollars) to industries in the country in the next fiscal year 2014-15 which starts on April 1, official sources said Thursday.

SMIDB has already granted 10 billion Kyats to 62 Myanmar entrepreneurs, the sources said, adding that a total of 12 branch offices of the bank have been opened across the country.

At the coordination meeting of the committee for development of the industrial zones held in Nay Pyi Taw on Wednesday, Minister U Soe Thane, the chairman of the committee, has called on entrepreneurs and businessmen to pay tax to the government so that it can work for the development of the industrial zones which create job opportunities for the people.

Meanwhile, Small and Medium scale enterprise bill has been brought to the parliament and is expected to be enacted in near future.

source: Shanghai Daily

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