As small and medium-sized enterprises (SMEs) in Myanmar are facing challenges, the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) is encouraging SMEs to pursue digital competency to ensure their long-term survival. Technology could ensure SMEs of success as they seek to expand in the digital era.
For Myanmar SMEs to expand overseas, they need to be strong in the domestic market first, then they can produce more and let the world know about the quality of made-in-Myanmar goods. It’s time we got out of import dependency. In this regard, technology does matter. Most of the local SMEs’ products can’t compete with imported goods in terms of pricing and technology.
Most local SMEs have to depend on the local market only because they aren’t yet able to expand overseas. It’s a small pie here, and if imported goods flow into the country, they’re likely to acquire a bigger share of the pie. Then it will be out of the question for our SMEs to survive in the long run.