Ministry of Industry to lease land for MSMEs at reduced rates

The Ministry of Industry will grant public land at reduced land lease rates for micro, small and medium-sized enterprises (MSMEs) across the country.
The ministry is coordinating with regional MSME agencies and Industrial Zone Supervisory Committees to lease lands at reduced rates for the MSMEs engaged in manufacturing, service, sales and other industries.
Additionally, plans are underway to develop industrial zones inside and outside of the industrial complex. A central committee, regional committees and executive committees are formed under the Industrial Zone Law, and new industrial zones will be developed systematically. Upgrading industrial zones, organizing industries located in different wards, townships and districts and integrating them into the industrial zones will lead to the sustainable development of the zones, with a view to creating jobs for locals and stimulating the State’s economic growth.
There are currently 28 established industrial zones, five industrial estates, and two ongoing industrial projects in the country. These facilities support a total of 7,972 MSMEs, employing over 500,000 locals. — ASH/KK