YANGON, June 28 (Xinhua) -- Myanmar commemorated Micro, Small, and Medium Enterprises (MSME) Day with a formal ceremony in the capital Nay Pyi Taw on Friday, state media daily The Mirror reported Saturday.

Speaking at the event, Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein said that MSMEs are the backbone of the global economy and play a vital role in poverty reduction and achieving long-term sustainable development, the report said.

He said that over 90 percent of businesses are under the MSME category, generating between 60 percent and 70 percent of employment opportunities, it said.

He also highlighted the necessity for MSMEs to embrace digital systems to survive and thrive in today's rapidly evolving economic landscape, saying that digitalization enhances operational efficiency, expands access to domestic and international markets, improves customer service, and boosts competitiveness, the report said.

Afterward, attendees viewed a video presentation and toured an MSME product exhibition featuring goods from Nay Pyi Taw Union Territory at the event, the report said.

Senior government officials, including ministers and deputy ministers of related ministries, attended the event. ■