State Counsellor encouraged local businesses to manufacture the products with quality higher than those of imported products10 Jul 2020
Daw Aung San Suu Kyi, State Counselor of Myanmar, encouraged business leaders to manufacture the products with quality higher than those of imported products.
“For businesses, high-quality products means dignity. Manufacturing high-quality products require more efforts than manufacturing low-quality ones,” she added.
People would choose cheaper products if the quality is similar, but only when there is no alternative option. The government, on its side, always looks towards to help produce high-quality products, she assured.
“I don’t like importing products, which you can manufacture here in the country. However, when you make products here, you need to create higher-quality products. In the market-oriented economy, you cannot force consumers to buy your products, simply because they are locally produced. You need to compete with your best strength,” Daw Aung San Suu Kyi said.
The World Bank, in its recently released Myanmar Economic Monitor, revised its forecast for the country in the 2019-2020 fiscal year to be as low as 0.5 percent as all sectors are hit, with adverse effects of varying intensity projected across all sectors.
Nearly six months ago, on January 15 this year, it forecasted the economy to grow by 6.4 percent in the 2019-20 fiscal year, up from 6.3 percent last fiscal year.
(Myanmar Business Today: https://mmbiztoday.com/local-businesses-need-to-high-quality-products-aung-san-suu-kyi/ )