Rice bosses bemoan lack of investment

Myanmar’s agriculture sector faces development challenges and it received no significant inflows of foreign investment in the past five years, according to the Myanmar Rice Federation.

The Directorate of Investments and Company Administration said agricultural foreign direct investment (FDI) was US$7.2 million during the 2015-16 fiscal year. The sector received US$138.8 million in 2010-11 and nothing was recorded the following year.

In 2012-13 the sum was US$9.7 million, US$20.3 million in 2013-14, US$39.7 million in 2014-15 and US$7.2 million in 2015-16. Since 2010, FDI totalled US$215.5 million.

Ye Min Aung, general secretary of the MRF, said: “Agricultural challenges are different from other sectors. The tourism and telecoms sectors made significant progress under the last government. Agriculture sees the least investment. Independent scholars are saying the same thing.

“Farmers miss numerous favourable conditions. Weak land and banking policies prevent farmers from taking advantage of opportunities,” he added.

Source: Eleven Myanmar

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