Meach Yady, chief of agricultural marketing at Cambodia’s Department of Planning and Statistics (Source: VNA)
HCM City (VNA) - There is a huge opportunity for Vietnamese firms to invest in agriculture in their countries and export agricultural produce to other markets, Cambodian and Myanmar officials have said.

Meach Yady, chief of agricultural marketing at the Cambodian Department of Planning and Statistics, said his country had invested a lot in agriculture but the sector had not developed commensurately.

He was speaking at a meeting held recently in HCM City to introduce the International Exhibition and Conference on Agriculture, Livestock, Aquaculture, Fisheries for Cambodia and Myanmar.

Cambodia imported large quantities of fisheries products, animal feed, fruits and vegetables, dairy and other agricultural products from Vietnam, he said.

“There is great potential for investment in the agricultural and agri-business sectors. The Government is modernising logistics and infrastructure and streamlining the process to facilitate business processes.”

Vietnamese firms could invest in growing rice, cassava, maize, mung beans, vegetables, rubber, livestock and fisheries, he said.

Businesses could invest in expanding fragrant rice cultivation or rice milling targeting niche and specific markets and in the rice seed industry.

Besides, investment to produce quality inputs such as fertilisers and pesticides to increase productivity was also necessary because farmers complained about the poor quality of imported inputs and possibly fraudulent labelling by unreliable suppliers, he added.

He called on Vietnamese firms to invest in vegetable production and processing as his country imported large volumes from Vietnam.

Investment in harvesting equipment and post-harvest processes was required to reduce losses during harvest and transportation.

Many Vietnamese firms have invested in Cambodia, mostly in rubber, cassava and sugarcane, and his country wanted them to invest in more sectors, he said.

U Hnin Oo, Vice President of the Myanmar Fishery Federation, said his country wanted to boost exports of fisheries, but few of its processing facilities met EU markets.

Since Vietnam was strong in fisheries exports, his country wanted to co-operate with Vietnamese firms, he said.

Besides fisheries, livestock breeding also offered investment opportunities for Vietnamese investors, he added.

According to the Myanmar Livestock Federation, with a population of around 54.5 million and increasing income, Myanmar offers opportunities in livestock and animal feed production.

Investment in livestock production could be 100 percent foreign invested or joint ventures with local individuals or relevant Government departments or organisations.-VNA