Mon State calls for investors in the fisheries sector

Mon State is calling on both local and foreign investors to take advantage of its strategic location and geography to invest in the fisheries sector. U Myint Soe, chair of the Mon State Fisheries Federation said interested parties can invest in the sector to produce finished and value-added products.

Other players in the industry see such investments as an opportunity to further develop the state and its economy.
“We would like to invite investors to gain access to modern technology. Mon State in return can offer our land, lakes, and labor”, said vice-chair of the Mon State Fisheries Federation U Khin Maung Yee. Mon State is geographically connected to the Andaman Sea and Gulf of Mottama in the West with more than 140 miles of coastline. Fisheries related businesses are a key driver for the state’s economy. Shipping by sea is readily available and transportation by road is also an option for exports to China, Thailand, and India.

“Mon State should invite businesses that will invest in canned fish or dried fish factories,” said local businessman U Thet Win Paying. The state usually produces more than 100,000 tonnes of prawns and shrimps every year. As much as 12,000 tonnes are exported to China, Singapore, and Malaysia annually. Approximately 80 percent of the fishery products that are produced within the state are exported to China.

Mon’s call for investors comes on the back of a decline in fisheries exports due to the COVID-19 pandemic.

While the value of Myanmar’s fish export market increased from US$732.2 million in the 2018-19 fiscal year to $858.9 million in 2019-20, this figure is projected to drop drastically as the market has been plagued by difficulties arising from the COVID-19 outbreak.

“The government will try to negotiate with other countries to connect and export fishery products to their markets,” said Minister of Agriculture, Livestock and Irrigation U Aung Thu.

“We need to negotiate with the Myanmar Fisheries Federation and the respective departments to issue COVID-19 free certificates on the fish produced in the country,” he said.

“This will help identify and set standards, upgrade the technological skills of the staff and improve the knowledge of the cold storage facilities,” he said. He added that the Department of Fisheries and Cooperative Department will also collaborate to improve local fish consumption. – Translated

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Source: Myanmar Times

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