The Myanmar Young Entrepreneurs Association (MYEA) will host the 6th Annual ASEAN-China Young Entrepreneurs Forum On September 22 and 23 in Yangon, the group said.
The event will take place at Mingalar Hall in the headquarters of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
Members of the association, as well as over 200 entrepreneurs from the 10 ASEAN member countries and China, are expected to attend the forum, which aims to facilitate networking, sharing of experiences and business opportunities among attendees.
The Myanmar Young Entrepreneurs Association came into existence in 2012, with the vision of contributing to the development of working entrepreneurs and helping new ones start businesses. The association boasts a membership base of over 300 entrepreneurs nationwide. Early next year, the association plans to setup centers to promote the training of young entrepreneurs.
According to the Small and Medium Industrial Development Bank, in Myanmar, 90 percent of businesses fall under the country’s definition of a small and medium-sized enterprise. SMEs are known to be vital to job creation and stand as an engine for economic growth and increased exports.
Organisers said programs such as this can help Myanmar’s entrepreneurs overcome the traditional challenges SMEs face, such as weak managerial skills, low levels of technology, lack of access to information and markets, weak financial support and pooraccessto capital to invest in technology and scale their operations.
Investing in Myanmar’s entrepreneurs can help SMEs become high-growth companies, which according to the Organization for Economic Cooperation and Development (OECD) exhibit higher net job creation rates compared to larger firms.