Opportunities for Vietnamese firms in Cambodia, Myanmar

There is a huge opportunity for Vietnamese firms to invest in agriculture in their countries and export agricultural produce to other markets, Cambodian and Myanmarese officials have said.

Meach Yady, chief of agricultural marketing at Cambodia’s Department of Planning and Statistics (Source: VNA)

HCMCity (VNA) - There is a huge opportunity for Vietnamese firms toinvest in agriculture in their countries and export agricultural produce toother markets, Cambodian and Myanmar officials have said.

MeachYady, chief of agricultural marketing at the Cambodian Department of Planningand Statistics, said his country had invested a lot in agriculture but thesector had not developed commensurately.

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

Cambodiaimported large quantities of fisheries products, animal feed, fruits andvegetables, dairy and other agricultural products from Vietnam, he said.

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

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

Businessescould invest in expanding fragrant rice cultivation or rice milling targetingniche and specific markets and in the rice seed industry.

Besides,investment to produce quality inputs such as fertilisers and pesticides toincrease productivity was also necessary because farmers complained about thepoor quality of imported inputs and possibly fraudulent labelling by unreliablesuppliers, he added.

Hecalled on Vietnamese firms to invest in vegetable production and processing ashis country imported large volumes from Vietnam.

Investmentin harvesting equipment and post-harvest processes was required to reducelosses during harvest and transportation.

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

UHnin Oo, Vice President of the Myanmar Fishery Federation, said his countrywanted to boost exports of fisheries, but few of its processing facilities metEU markets.

SinceVietnam was strong in fisheries exports, his country wanted to co-operate withVietnamese firms, he said.

Besidesfisheries, livestock breeding also offered investment opportunities forVietnamese investors, he added.

Accordingto the Myanmar Livestock Federation, with a population of around 54.5 millionand increasing income, Myanmar offers opportunities in livestock and animalfeed production.

Investmentin livestock production could be 100 percent foreign invested or joint ventureswith local individuals or relevant Government departments or organisations.-VNA

VNA