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China, Myanmar Firms to Invest $130m in Four Agriculture Centres

China’s state-owned CITIC Construction group, the Myanmar Rice Federation and Myanmar Agribusiness Public Corporation signed a cooperation agreement for the construction of agricultural centres in three key regions.

The US$130 million (K197 billion) deal signed in Nay Pyi Taw last week will construct centres in Yangon, Ayeyarwady, Mandalay and Rakhine.

“The project intends to upgrade the quality of agricultural produce by providing services such as dryers and warehouses for post-harvest storage,” said U Ye Min Aung, chair of the federation.

It also plans to go into partnered cultivation, to support farmers in the marketing of high-quality products, and to arrange for systematic market access, he added.

The centres will be set up in Twante township in Yangon, Kyaiklat township in Ayeyarwady, Madaya township in Mandalay, and Kyauktaw township in Rakhine.

Details such the investment ratio and profit-sharing will be decided after further discussions, said U Myint Lwin of the federation.

Source: Myanmar Times

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