Xinhua, Yangon :
Myanmar will upgrade an industrial training center in Hsinde with the support of a German bank, according to the Ministry of Industry Wednesday.
Under an agreement signed between the ministry and the KFW Development Bank of Germany, the development project will be implemented from 2014 to 2016, in which the German bank will provide teaching aid and 4 million euros (5.32 million U.S. dollars) for the opening of technical teacher training center and transfer technology.
The ministry will also contribute 2.5 million euros to other projects of construction, maintenance and transport to support the industrial training school.
Meanwhile, the ministry was also planning to draw a strategic plan for the development of small and medium enterprises (SME) with the help of a German foundation-
Friedrich Naumann Foundation (FNF) under a memorandum of understanding (MoU) initiated recently.
According to official statistics, Myanmar’s SMEs account for 126,237 in number, or 99.4 percent of overall industries across the country.
Myanmar’s industrial sector contributes about 20 percent to the gross domestic product, in which private sector shared 92.36 percent.
