Myanmar has been widely known as the ‘ Rice Bowl’ of Southeast Asia. This time the government’s goal is to bring back its status by encouraging foreign investors to settle in this agricultural market.
Deputy Minister for National Planning and Economic Development Dr. Kan Zaw said during a two day summit which was held in Yangon last July 25 that there are magnificent opportunities to increase the agricultural sector with the assistance and support of foreign investors, Myanmar Times news reported.
Though the government are confronted with various problems such as banking system, floating exchange rate, land policy laws, inadequate infrastructures and insufficient manpower, the government consider this as a stepping stone to reach a higher level towards the nations’ development and improvement. The government tries hard to strengthen the rice granary in the region. They are open to suggestions and recommendations which could give credible solutions and contribute better ideas for the rice economy.
The Singapore based Magenta Global who conceptualized and organized the “Into Myanmar Agri Trade, Investment and Infrastructure Summit” disclosed that it has enticed 200 stakeholders from the agribusiness worldwide and are seeking great business opportunities in Burma, the report said.
Mr. Issares Thumrong Thunyawong of Thai firm Siam Kubota, the spokesperson for the producer of Tra Chang-brand ploughs did mentioned that there was indeed an increase in sale of diesel ploughs noted at 10,000 units in Myanmar last year.
A spokesperson for Singapore-based fertiliser producer Yara said his company is also keen on expanding business trade in the Burma. They have no idea yet on what particular crop will give the farmers high profits.
Mr. Hishamuddin Koh, a business development adviser from Malaysia said that since Myanmar is rich in bio-diversity and can grow many horticultural and food crops, it is best to say that Myanmar can now supply food to other countries which have inadequate supply of foods and resources, said news report from Myanmar Times.
Statistic shows that the country has exported 844,000 tonnes of rice last year with an earnings amounting to US$324 million, a 57% increase on the 536,800 tonnes exported in the previous year.
This year the government is pushing to increase the rice exports by 20pc to more than one million tones.