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Yangon Marine Breeding Zones in the Pipeline

The plan is to establish three breeding zones on 10,000 acres of land in Yangon Region to produce fishery products, according to U Hnin Oo, vice chair of Myanmar Fisheries Federation. “After consultations with the regional government, we have roughly planned to create breeding zones. There are many steps to be taken after ground inspection,” […]

Local shrimp market shrinking on falling US demand

As the US has stopped buying wild shrimp, the local market for shrimp is shrinking, U Hnin Oo, deputy chair of Myanmar Shrimp Association, told The Myanmar Times. In the past, Myanmar exported both wild and farmed shrimp to the US, EU as well as its neighbours in ASEAN. However, the US has said that […]

New marine breeding zones in Twante, Yangon to accelerate GDP growth

The plan will be implemented in the Twante and Yangon areas, he said at the meeting with the vice president and businesses. “The current government is very much interested in the fisheries sector. The sector can contribute immediate benefits for faster GDP growth. So, negotiations are underway to implement a special fisheries project in Twante […]

Inter-Related Challenges for SMEs and Financial Sector

When developing a country’s economy, the success of small and medium-sized enterprises (SMEs) is a vital part and should be a priority for any administration which is keen to maintain prosperity. In order for strong businesses to emerge and compete with other regional enterprises, enterprises will need to grow and develop. For that to happen, […]

Myanmar Prawn Exports Could Reach $1bn a Year With Help of New Strains

​​ Exports from Myan­mar’s ailing prawn industry could be worth $1 billion per year by 2022 if it adopts a dis­ease resistant strain of the crustacean from Hawaii in the United States, ac­cording to industry lead­ers. U Kyaw Tun Myint, chairman of the Myan­mar Shrimp Association, said at an industry meet­ing last month that My­anmar […]

Calls for Yangon Govt to Halt Rising Price of Fish and Poultry

Concerns have been raised in parliament over the rising cost of poultry and fish prices at the market. Speaking during a sitting of the Yangon Region parliament on October 12, U Han Htun, Yangon Region minister for agriculture, livestock, forestry and energy, said research was needed to understand the steep increases in market prices for […]

Government restricts forex to banks

Exporters and importers must use banks for foreign currency transactions, according to new government regulations. The new rules would be another step toward a functioning interbank currency market, but bankers are doubtful they can be immediately enforced. The government amended its 2012 Foreign Exchange Management Law last week to prevent exporters from selling foreign currency. […]

Fishery sales keep slipping away

U YAQOUB says there is no question whether the fish business is in crisis. A 50-year-old resident of Kyimyindaing township, he employs two regular workers to meet local demand for the important protein source. He meets with brokers representing fish farms, negotiates the price and finalises orders. When the fish arrive, they are weighed and […]

Are the doors for foreign firms open too wide?

The Myanmar Investment Commission’s move to open up all but 10 business activities to foreign investment has drawn opposition from some local businesspeople, who say it is a step too far. The MIC released a list of the 10 business areas restricted to Myanmar-only investment as well as defining 64 activities that foreign companies can […]

Myanmar Organic Association Tie Up with Japanese Firm to Boost Organic Farming

The Myanmar Organic Association said it plans to work with Japanese firm EM Company to promote organic farming in Myanmar. The plan is in response to growing demand for organic products in the international market, which Myanmar is poised to enter if it can increase investment and value-added capacity in the country’s large agriculture sector. […]