Sme Definition In Myanmar

Writes vicky bowman for mizzima.

Sme definition in myanmar. What is an sme. The myanmar trademark law 2019 was finally enacted on january 30 2019. On average smes in myanmar account for 50 95 of. A kayan woman weaving in bagan myanmar ilo.

In 2015 myanmar adopted the small and medium enterprises development law. This is an important step in the government s efforts to attract foreign investment into myanmar as the new trademark law establishes a framework read more. Myanmar also needs an effective advocacy body for small businesses. 1 1 definition of sme and its basis the official definition of smes in myanmar since 1990 given in the following table tends to focus on the industrial sector only.

What myanmar needs is a simple definition of small and medium sized enterprise. Smes play a crucial role in the economic well being of developed and developing countries alike. They can not only generate jobs but can also be a source of innovation wealth creation and poverty reduction making significant contributions to the sustainable development goals. It is debatable whether or not a law for smes is necessary.

For myanmar s enterprises and small and medium sizes enterprises smes in particular the opening of the country s economy in general and the intensification of regional economic integration more specifically most notably through the association of southeast asian nations asean economic community aec bring both opportunities and challenges. Business sector six categories and capital investment. The government is making great strides in carrying out to enhance and support msmes by forming the central committee and working committee for development of small and medium enterprises. The definition of an sme is important for access to finance and eu support programmes targeted specifically at these enterprises.

The 12 definitions of what is small and what is medium which were created by this 4d chess can only be depicted in a table. The myanmar definition in the smes law took these two definitions of employee numbers and revenue but unfortunately then added two further dimensions. Charltons provides focused legal advice to small and medium sized enterprises smes in myanmar. The main factors determining whether an enterprise is an sme are.

Small and medium sized enterprises smes are defined in the eu recommendation 2003 361.