Nay Pyi Taw, July (27)
According to the military council’s propaganda publication, 338 small and medium enterprises (SMEs) that could not run during the three months from April to June of this fiscal year were removed from the registration list.
The Department of Small and Medium Enterprises said that the SMEs were no longer able to continue their operations for various reasons, so their licenses were revoked.
According to the military council’s statement, 463 small and medium enterprises were registered in three months, and those that could no longer operate were removed from the registration list.
According to a SME owner, most businesses were forced to shut down due to power outages under the military regime.
On the other hand, SMEs are facing difficulties in continuing their operations due to rising raw material prices, transportation costs, and labor shortages.
According to the World Bank’s January report, Myanmar’s ongoing conflicts, severe power outages, and policy changes continue to have a negative impact on the country’s economy.
There are hundreds of thousands of SMEs around the country, and SMEs have been struggling to stay afloat following the military coup, with some enterprises shutting down due to losses.
News-Than Lwin Times
Photo-CJ