Agricultural machinery trading zones will be established in 14 states and regions, with discussions already held with related businesses, said Union Minister for Planning and Finance U Kyaw Win during a Myanmar Private Sector Development Committee and Myanmar Entrepreneurs Regular Meeting led by Vice President U Myint Swe on Thursday at the Union of Myanmar Federation of Chambers of Commerce and Industry. The aim of setting up trading zones for agricultural machinery is to develop the agriculture sector, which is prevalent in Myanmar, officials said. Value-added agriculture products and acquisition of international markets will also be accomplished for agriculture sector development, it is learnt.
Loans from Myanmar Agricultural Development Bank will allow farmers to buy the agricultural machinery added the Union Minister.
“The government will support in any way possible for the livelihood development of the farmers. Loans will be provided so that the farmers can purchase the machinery that they want. Interest is much reduced as a two-step loan system is used. Everything has been discussed, and the final step of giving loans only needs to be done. Afterward, arrangements are made to provide inputs required by the farmers such as fertilizers and technical knowledge”, said the Union Minister.
The Union Minister also said coordination with the Ministry of Agriculture, Livestock and Irrigation will be achieved to obtain land and foreign investment required for livestock breeding sector development.