The Small and Medium Enterprises Development Law was enacted on 9th April 2015 by the Pyidaungsu Hluttaw No.23,2015. The objectives of this law are as follows:
- To enable to accept the information related to business, technical assistance and financial aids for the small and medium enterprises
- To reach local and international markets and enhance the competitiveness of small and medium enterprises
- To have new employment opportunities and increase income of the people through the development of the small and medium enterprises
- To reduce the difficulties and obstacles in business operations of small and medium enterprises
The Ministry of Industry was the focal ministry of the SMEs Development according to the Union Government’s notification no 19/2016 announced on 19th January 2016.