Myanmar seeks to attract increased foreign investments

Myeik, located at the centre of the Andaman Sea, could become Asia’s main fisheries hub

Myanmar has welcomed further foreign investments during the Business Matching of the ASEAN Indo-Pacific Forum held in Jakarta, Indonesia, on 6 September.
In the event, representatives from Myanmar, Brunei, Thailand, Malaysia, the Philippines and Indonesia made project proposal presentations for investment in their countries.
Myanmar representative U Kyaw Deva, who is also the chairman of the Myanmar Burman Entrepreneurs Association gave a presentation on the project proposal titled “International Fishing Port Development in Southern Myanmar” and answered questions.
Myeik, where the Project Proposal is located, is at the centre of the Andaman Sea (water surface area of ​​600,000 square kilometres), which has more than 800 islands and is rich in various aquatic products. The industrial land area of ​​the project is 103 acres.
He said that it could become Asia’s main fisheries hub and the project development timeline would be three to five years.
He invited them to come and invest in the construction of a shipyard and power plant for fishing vessels (30 to 50) which can load aquatic products at the same time, along with cold storage (3,000-5,000 MT), a value-added canning factory and a packing factory.
He explained that the timeline needed to get capital back is generally 5 to 7 years. — MNA/KZL

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